13A Q3

For the year just completed. Hanna Company had net income of $35,000. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Year Beginning of Year Current assets Cash and cash equivalents $ 30,000 $ 40,000 Accounts receivable $ 125,000 $ 106,000 Inventory $ 213,000 $ 180,000 Prepaid expenses $ 6,000 $ 7,000 Current liabilities: Accounts payable $ 210,000 $ 195,000 Accrued liabilities $ 4,000 $ 6,000 Income taxes payable $ 34,080 $ 30,000 The Accumulated Depreciation account had total credits of $20,000 during the year. Hanna Company did not record any gains on losses during the year Required: Using the indirect method, determine the net cash provided by operating activities for the year (List any deduction in cash outflows as negative amounts.) Hanna Company Statement of Cash Flows-Indirect Method (partial RE Nox