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 3 103,200 Expenses Cost of goods sold 44,000 Depreciation expense 13, Salaries expense 20,000 Rent expense 9,200 Insurance expense 4,000 Interest expense 3, utilities expense Net Income $ 6,200 2. LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Prior Year Accounts receivable $ 5,Bee 56,200 Inventory 2,18e 1,640 Accounts payable 4.600 See Salaries payable 92e 220 utilities payable 260 180 Prepaid Insurance 299 320 Prepaid rent 268 200 Problem 12-1A (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 slon) LANSING COMPANY Cash Flows from Operating Activities-indirect 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