Please show all work Required information Use the following information for the

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Please show all work

Required information Use the following information for the Problems below. The following information applies to the questions displayed below Lansing Company's 2017 income statement and selected balance sheet data (for current assets and current liabilities) at December 31, 2016 and 2017, follow. LANSING COMPANY Incone Statenent For Year Ended December 31, 2017 Sales revenue $106,200 Expenses Cost of goods sold Depreciation expense Salaries expense Rent expense Inaurance expense Interest expense Utilities expense 5,000 13,500 21 000 9,300 4,100 ,900 ,100 6,300 Net incone LANSING COMPANY Selected Balance Sheet Accounts 2016 At December 31 Accounts receivable Inventory Accounts payable Salaries payable Utilities payable Prepaid insurance Prepaid rent 2017 $5,900 6,400 2,280 ,69 4,700 5,200 730 190 340 210 940 280 290 280 Problem 12-1A Indirect: Computing cash flows from operations LO P2 Required Prepare the cash flows from operating activities section only of the company's 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 Activities-Indirect Method For Year Ended December 31, 2017 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations:

Explanation / Answer

Cash flow from operating activities Net income 6300 Adjustments to reconcile the net income Depreciation expense 13500 Changes in current asset and liabilities Increase in prepaid rent -70 Decrease in accounts receivable 500 Increase in Inventory -590 Decrease in prepaid insurance 50 Decrease in accounts payable -500 Increase in salaries payable 210 Increase in utilities payable 90 13190 Cash flow from operating activities 19490

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