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  3. income statement for year ended december 31, 2018

Income Statement For Year Ended December 31, 2018 Sales revenue $97,200 Expenses   Cost of goods sold 42,000 Depreciation expense 12,000 Salaries...

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Accounting

Income Statement
For Year Ended December 31, 2018

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 3120182017
Accounts receivable$5,600$5,800
Inventory1,9801,540
Accounts payable4,4004,600
Salaries payable880700
Utilities payable220160
Prepaid insurance260280
Prepaid rent220180

Prepare the cash flows from operating activities section only ofthe company’s 2018 statement of cash flows using thedirect method.

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