Required information

Use the following information for the Problems below.

[The following information applies to the questions displayed below.] Lansing Companys 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	$	139,200
Expenses
Cost of goods sold		56,000
Depreciation expense		19,000
Salaries expense		32,000
Rent expense		10,400
Insurance expense		5,200
Interest expense		5,000
Utilities expense		4,200
Net income	$	7,400

LANSING COMPANY Selected Balance Sheet Accounts
At December 31	2017			2016
Accounts receivable	$	7,000		$	8,600
Inventory		3,380			2,240
Accounts payable		5,800			7,400
Salaries payable		1,160			840
Utilities payable		500			300
Prepaid insurance		400			560
Prepaid rent		500			320

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

Required information

Use the following information for the Problems below.

[The following information applies to the questions displayed below.] Lansing Companys 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	$	139,200
Expenses
Cost of goods sold		56,000
Depreciation expense		19,000
Salaries expense		32,000
Rent expense		10,400
Insurance expense		5,200
Interest expense		5,000
Utilities expense		4,200
Net income	$	7,400

LANSING COMPANY Selected Balance Sheet Accounts
At December 31	2017			2016
Accounts receivable	$	7,000		$	8,600
Inventory		3,380			2,240
Accounts payable		5,800			7,400
Salaries payable		1,160			840
Utilities payable		500			300
Prepaid insurance		400			560
Prepaid rent		500			320

Required: Prepare the cash flows from operating activities section only of the companys 2017 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, 2017
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operations:
		0
		$0