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[The following information applies to the questions displayed below.] 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	$ 151,200
Expenses
Cost of goods sold	60,000
Depreciation expense	21,000
Salaries expense	36,000
Rent expense	10,800
Insurance expense	5,600
Interest expense	5,400
Utilities expense	4,600
Net income	$ 7,800

LANSING COMPANY
Selected Balance Sheet Accounts
At December 31	Current Year	Prior Year
Accounts receivable	$ 7,400	$ 9,400
Inventory	3,780	2,440
Accounts payable	6,200	8,200
Salaries payable	1,240	880
Utilities payable	580	340
Prepaid insurance	440	640
Prepaid rent	580	360

Problem 16-1A (Algo) Indirect: Computing cash flows from operations LO P2