Required information Use the following information for the Problems below. 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 Soles 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 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Accounts receivable $ 7,000 Inventory 3,380 Accounts payable 5,800 Salaries payable 1,160 Utilities payable 500 Prepaid insurance 400 Prepaid rent 500 Prior Year $8,600 2,240 7,400 840 300 560 320 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 Next >