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Prepare the cash flows from operating activities section

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Reference no: EM13572767

Lansing Company's 2013 income statement and selected balance sheet data at December 31, 2012 and 2013, follow.

LANSING COMPANY
Income Statement
For Year Ended December 31, 2013
  Sales revenue $ 97,200  
  Expenses

     Cost of goods sold
42,000  
     Depreciation expense
12,000  
     Salaries expense
18,000  
     Rent expense
9,000  
     Insurance expense
3,800  
     Interest expense
3,600  
     Utilities expense  
2,800  



  Net income $ 6,000  




LANSING COMPANY
Selected Balance Sheet Accounts
  At December 31 2013
2012
  Accounts receivable $ 5,600
$ 5,800
  Inventory
1,980

1,540
  Accounts payable
4,400

4,600
  Salaries payable
880

700
  Utilities payable
220

160
  Prepaid insurance
260

280
  Prepaid rent
220

180

Required:

Prepare the cash flows from operating activities section only of the company's 2013 statement of cash flows using the direct method. (Amounts to be deducted should be indicated with a minus sign.)

Reference no: EM13572767

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