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 $ 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 2017 2016
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 2017 statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
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 $ 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 2017 2016
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 2017 statement of cash flows using the direct method. (Amounts to be deducted should be indicated with a minus sign.)

After hearing a knock at your front door, you are surprised to see the prize patrol from a large, well-known magazine subscription company. it has arrived with the good news that you are the big winner, having won $21 million. you have three options.(a) receive $1.05 million per year for the next 20 years.(b) have $8.25 million today.(c) have $2.25 million today and receive $750,000 for each of the next 20 years.your financial adviser tells you that it is reasonable to expect to earn 13 percent on investments.

Which of the following would not be listed under cash outflows in a financial plan?

Part two of threewhich accurately describes a cause for inflation? the federal reserve requires banks to keep more money on reserve. the federal reserve raises interest rates and slows economic activity. the government places too much money into circulation. the government places too little money into circulation. what are consequences of rapid inflation? (select all that apply.) savings accounts become less desirable because interest earned is lower than inflation individual purchasing power increases, which results in an increase in demand. individual purchasing power decreases, which results in a decrease in demand. people postpone purchasing expensive items, such as homes, until prices drop.how does the federal reserve stabilize and safeguard the nation’s economy? (select all that apply.) it distributes currency and oversees fiscal conditions. it implements american monetary policy. it regulates banks and defends consumer credit rights. it regulates and oversees the nasdaq stock exchange. what are functions of the federal reserve? (select all that apply.) it offers financial services within the government. it creates us coins. it prints us dollars. it enters us currency into circulation.how does the federal reserve bank fit into the balance of power among the three branches of the federal government established by the constitution? the chair of the federal reserve is appointed by the president and approved by the senate. the chair of the federal reserve is elected by popular vote. the chair of the federal reserve is appointed by congress and approved by the supreme court. the chair of the federal reserve is appointed in a secret meeting.who appoints the board of governors of the federal reserve system? the us president the us supreme court the us house of representatives the us senatewhy is federal oversight crucial to the operation of the federal reserve bank? the federal reserve is the nation’s central banking system. the federal reserve controls the nomination of legislators to committees. the federal reserve funds mandatory government expenditures. the federal reserve sets rules and regulations for the new york stock exchange.what is the government accountability office (gao)? an independent agency that answers to congress and audits the federal reserve an internal review agency of the federal reserve used to promote its mission a government agency that answers to congress and audits the united states mint a private agency that advises the dent about fiscal policyhow does the law of comparable advantage lead to international trade? countries that do not engage in trade are in a stronger position economically than countries that do trade. countries that cannot produce products efficiently have to trade for the goods and services that other countries have. countries that have more resources are able to trade for a wider variety of items that can be offered for sale. countries make products they can produce efficiently and are able to get the rest of what they need through trade.when might a country produce a product even though it cannot do so efficiently? (select all that apply.) to ensure national security to minimize the sale of exports to ensure a trade deficit to increase the balance of trade