Lansing Companys 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	$	112,200
Expenses
Cost of goods sold		47,000
Depreciation expense		14,500
Salaries expense		23,000
Rent expense		9,500
Insurance expense		4,300
Interest expense		4,100
Utilities expense		3,300
Net income	$	6,500

LANSING COMPANY Selected Balance Sheet Accounts
At December 31	Current Year					Prior Year
Accounts receivable		$	6,100				$	6,800
Inventory			2,480					1,790
Accounts payable			4,900					5,600
Salaries payable			980					750
Utilities payable			320					210
Prepaid insurance			310					380
Prepaid rent			320					230

Problem 16-1A 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.)

Complete the chart

Cash flows from operating activities

adjustment to reconcile the net income to net cash

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