Indirect: Computing cash flows from operations

Required Informetlon use the following information for the Problems below. (Algo) [The follomng Informavon app/les to the guestlons dlsp/ayed below.] Lanslng Company's current-year Income statement and selected balance sheet data at December 31 of the current and 142,2e 57 , ee 19,se 33, ee 1B, see S 7, see S l,ze S 8,8e pror years follow LAWING COMPANY Income Statement For Current Year Ended December Sales revenue Expenses Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Interest expense Utilities expense Net income LANSItG COMPANY 31 s, gee s, lee Selected Balance Sheet Accounts At December 31 Accounts receivable Inventory Accounts payable Salaries payable Utilities payable Prepaid insurance Prepaid rent Current Year 3 , ase sze die sze Prior Year 2,290 7 , see 8s 330 'roblem 12-1A (Algo) Indirect: Computing cash flows from operations LO P2 xeqwrea: Prepare the operating actlvrtles section of the statement of cash flows uslng the Ind/rect method for the current year Note: Amounts to be deducted should be Indicated with a minus sign. LANSING COMPANY Cash Flows from Operating Activitieslndirect Method For Current Year Ended December 31 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Changes in current assets and current liabilities