Check my work mode: This shows what is correct or Inco Required Information 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 dats st 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 $183,200 44,888 13,000 20,000 9,200 4,000 3,800 3,000 $ 6,200 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Prior Year Accounts receivable $5,800 $ 6,288 Inventory 2,180 1,640 Accounts payable 5,000 Salaries payable 928 720 utilities payable 268 180 Prepaid insurance 288 320 Prepaid rent 268 288 Problem 16-1A (Algo) Indirect: Computing cash flows from operations LO P2 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.) Answer is not complete. LAN BING COMPANY Cash Flows from Operating Activities-Indirect Method For Cash flows from operating activities: Net income Current Year Ended December 31 Adjustments to reconcile net income to net cash provided by operations Income statement items not affecting cash Depreciation expense Changes in current assets and curentab Decrease in accounts payable Increase in inventory Decrease in prepaid insurance Increase in prepaid rent Increase in accounts payable Increase in salaries payable Increase in utilities payable Not cash provided by operating activities 0 00000000 s 13,000 6,200 13,000 5 19,200