Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue Expenses Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Interest expense Utilities expense Net income $ 136,200 55,000 18,500 31,000 10,300 5,100 4,900 4,100 $ 7,300 LANSING COMPANY Selected Balance Sheet Accounts. At December 31 Accounts receivable Inventory Accounts payable. Salaries payable Utilities payable Prepaid insurance Prepaid rent Current Year Prior Year $ 6,900 $ 8,400 3,280 2,190 5,700 7,200 1,140 830 480 290 390 540 480 310