Refer to the information in Problem 16-1A.

Required
Prepare the cash flows from operating activities section only of the company's 2017 statement of cash flows using the direct method.

LANSING COMPANY Selected Balance Sheet Accounts At December 31 Accounts receivable Inventory Accounts payable Salaries payable Utilities payable Prepaid insurance Prepaid rent 2017 2016 $5,600 $5,800 1,980 1,540 4,400 4,600 700 220 160 280 220 180 880 260 LANSING COMPANY Income Statement For Year Ended December 31, 2017 Sales revenue $97,200 Expenses Cost of goods sold Depreciation expense Salaries expense. Rent expense Insurance expense Interest expense. Utilities expense 42,000 12,000 18,000 9,000 3,800 3,600 2,800 $6,000 Net income