Required Information Use the following information for the Problems below. [The following information applies to the questions displayed below.] Lansing Company's 2017 income statement and selected balance sheet data (for current assets and current liabilities) at December 31, 2016 and 2017, follow. LANSING COMPANY Income Statement For Year Ended December 31, 2017 Sales revenue $157,200 Expenses Cost of goods sold 62,eee Depreciation expense 22. eee Salaries expense 38.809 Rent expense 11. eee Insurance expense 5, see Interest expense 5.689 Utilities expense 4.8ea Net income $ 8,808 LANSING COMPANY Selected Balance Sheet Accounts At December 31 2017 Accounts receivable $ 7,680 Inventory 3,982 Accounts payable 6.499 Salaries payable 1,280 Utilities payable 620 Prepaid insurance 460 Prepaid rent 620 2016 $9,899 2,540 8.689 999 360 680 380 Problem 12-1A Indirect: Computing cash flows from operations LO P2 Required: Prepare the cash flows from operating activities section only of the company's 2017 statement of cash flows using the indirect meth (Amounts to be deducted should be Indicated with a minus sign.) 8.000 LANSING COMPANY Cash Flows from Operating ActivitiesIndirect Method For Year Ended December 31, 2017 Cash flows from operating activities: Net income S Adjustments to reconcile net income to net cash provided by operations: Depreciation expense Accounts receivable decrease Inventory increase Accounts payable decrease Salaries payable increase Utilities payable increase Prepaid insurance decrease Prepaid rent increase Net cash provided by financing activities S 8.000