WHILA GAIL Required information [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 $ 124,200 Expenses Cost of goods sold 51,000 16,500 27,000 Depreciation expense Salaries expense Rent expense Insurance expense Interest expense 9,900 4,700 4,500 Utilities expense 3,700 $ 6,900 LANSING COMPANY Selected Balance Sheet Accounts Net income At December 31 Accounts receivable. Inventory. Accounts payable Salaries payable Utilities payable Prepaid insurance Prepaid rent Current Year Prior Year $ 6,500 $ 7,600 2,880 1,990 5,300 6,400 1,060 790 400 250 350 460 400 270 Jum Required: Prepare the operating activities section of the statement of cash flows using the indirect method for the current year. (Amounts to be deducted should be indicated with a minus sign.) LANSING COMPANY Cash Flows from Operating Activities-Indirect Method For Current Year Ended December 31 Cash flows from operating activities: Net loss Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Changes in current assets and current liabilities 10 of 10