Required information Use the following information for the Problems below. (Static) (The following information applies to the questions displayed below) 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 $ 97,200 Expenses Cost of goods sold 42,000 Depreciation expense 12,000 Salaries expense 18,000 Rent expense 9,800 Insurance expense 3,800 Interest expense 3,600 Utilities expense 2,800 Net income $ 6,000 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Prior Year Accounts receivable $ 5,600 $ 5,800 Inventory 1,980 1,540 Accounts payable 4,400 4,600 Salaries payable 880 700 Utilities payable 220 160 Prepaid insurance 260 280 Prepaid rent 220 180 Problem 12-1A (Static) Indirect: Computing cash flows from operations LO P2 Prepaid insurance Prepaid rent 260 220 280 180 Problem 12-1A (Static) 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 deducted should be indicated with a minus sign.) 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 0 $ 0