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Use the following information for the Problems below. $($Algo$)$

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Lansing Company's current$-$year income statement and selected balance sheet data at December $31$ of the current and prior years follow.

oblem $16-1$A $($Algo$)$ Indirect: Computing cash flows from operations LO P$2$ Required:

Prepare the operating activities section of the statement of cash flows using the indirect method for the current yea Note: Amounts to be deducted should be indicated with a minus sign. Required:

Prepare the operating activities section of the statement of cash flows using the direct method for the current year. Note: Amounts to be deducted should be indicated with a minus sign.