(Solved): Required information Problem 16-2AB (Static) Direct: Computing cash flows from operations LO P5 2 R ...

Required information Problem 16-2AB (Static) Direct: Computing cash flows from operations LO P5 2 Required: Prepare the operating activities section of the statement of cash flows using the direct method for the current year. Note: Amounts to be deducted should be indicated with a minus sign. Answer is complete but not entirely correct. Use the following information for the Problems below. (Static) [The following information applies to the questions displayed below.] Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. Problem 16-2AB (Static) Direct: Computing cash flows from operations LO P5