2 For the year just completed, Hanna Company had net income of $55,000. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows Begining of Tear Current t Cash and cash equivalents 41,000 Inventory 439,900 11,500 $198,000 $370,000 14.000 Ante payable 31,400 434,000 The Accumulated Depreciation account had total credits of $48,000 during the year. Hanna Company did not record arty gains or 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 and cash outflows as negative amounts.) Answer is complete but not entirely correct. Statement of Cash Flows-rect Method) 50.000 Adustan to convert net income a cash basis Decrease in 0 (40.000) Decrease in accounts receivab 07001 Decreme in accrued se in income (4.000) 8,000 10000) Decrease in prepaid 2,500 O Deprecia 48,000 in inventury 31.2000 (28.0000 Net cash prounded by opening a $29,000 Graw