Question: 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

 Use the following Information for the Problems below. (The following 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 Sales revenue $112,200 Expenses Cost of goods sold 47,eee Depreciation expense 14,500 Salaries expense 23,000 Rent expense 9,500 Insurance expense 4,300 Interest expense 4,100 Utilities expense 3,300 Net income $ 6,500 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Accounts receivable $ 6,100 Inventory 2,480 Accounts payable 4,900 Salaries payable 980 Utilities payable 320 Prepaid insurance 310 Prepaid rent 320 Prior Year $ 6,800 1,790 5,600 750 210 380 230 Problem 16-2AB Direct: Computing cash flows from operations LO P5 Required: Prepare the operating activities section of the statement of cash flows using the direct method for the current year. (Amounts to be deducted should be indicated with a minus sign.) LANSING COMPANY Cash Flows from Operating ActivitiesDirect Method For Current Year Ended December 31 Cash flows from operating activities S 0

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