Problem - 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 Income Statement For Year Ended December 31, 2017
Sales revenue$124,200
Expenses Cost of goods sold 51,000
Depreciation expense 16,500
Salaries expense 27,000
Rent expense 9,900
Insurance expense 4,700
Interest expense 4,500
Utilities expense 3,700
Net income$6,900
LANSING COMPANY Selected Balance Sheet Accounts At December 31 2017 2016
Accounts receivable $6,500 $7,600
Inventory 2,880 1,990
Accounts payable 5,300 6,400
Salaries payable 1,060 790
Utilities payable 400 250
Prepaid insurance 350 460
Prepaid rent 400 270
Required: Prepare the cash flows from operating activities section only of the company's 2017 statement of cash flows using the indirect method.