Problem 12-1A Indirect: Computing cash flows from operations LO P2

Lansing Companys 2015 income statement and selected balance sheet data (for current assets and current liabilities) at December 31, 2014 and 2015, follow.

LANSING COMPANY Income Statement For Year Ended December 31, 2015
Sales revenue	$	63,000
Expenses
Cost of goods sold		22,000
Depreciation expense		6,000
Salaries expense		9,000
Rent expense		2,500
Insurance expense		1,400
Interest expense		2,000
Utilities expense		1,400
Net income	$	18,700

LANSING COMPANY Selected Balance Sheet Accounts
At December 31	2015			2014
Accounts receivable	$	3,800		$	3,910
Inventory		950			817
Accounts payable		1,100			1,200
Salaries payable		410			270
Utilities payable		110			70
Prepaid insurance		100			120
Prepaid rent		180			140

Required:

Prepare the cash flows from operating activities section only of the companys 2015 statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

LANSING COMPANY
Cash Flows from Operating ActivitiesIndirect Method
For Year Ended December 31, 2015
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operations:
Net cash provided by operating activities		$