Name Module 22 Featured Worksheet Assets and Liabilities 1. Before your first meeting with your financial advisor, you are asked to make a list of all of your assets and liabilities. Determine how the advisor will label each of the following: a. Used car, you have paid off, Kelly blue book value $450 b. $50 government bond that matures in 2 years c. $500 in savings account d. $1,000 you have on your credit card e. Share of stock from Apple INC 2. You place $5,000 into your savings account at your bank. a. The bank views the money as: b. You view the money as: 3. You take out a car loan of $10,000 from your bank. a. The bank views the money as: b. You view the money as: 4. Explain the three tasks of the financial system

Required information 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 $130,200 expenses cost of goods sold 53,000 depreciation expense 17,500 salaries expense 29,000 rent expense 10,100 insurance expense 4,900 interest expense 4,700 utilities expense 3,900 net income $7,100 lansing company selected balance sheet accounts at december 31 2017 2016 accounts receivable $6,700 $8,000 inventory 3,080 2,090 accounts payable 5,500 6,800 salaries payable 1,100 810 utilities payable 440 270 prepaid insurance 370 500 prepaid rent 440 290 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.)