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2 For the year just completed, Hanna Company had net income of $ 7 5 , 0 0 0 . Balances in the company's current
For the year just completed, Hanna Company had net income of $ Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows:
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tableDecember Current assets:,End of Year,Beginning of YearCash and cash equivalents,$$Accounts receivable,$$Inventory$$Prepaid expenses,$$Current liabilities:,$$Accounts payable,$$Accrued liabilities,$$
The Accumulated Depreciation account had total credits of $ during the year. Hanna Company did not record any 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 outflows as negative amounts.
table& Answer is complete but not entirely correct.Hanna CompanyStatement of Cash FlowsIndirect Method partialNet income,theta $vvAdjustments to convert contribution marg,Theta Depreciationo$Decrease in accounts receivable,theta times Increase in inventory,theta Decrease in prepaid expenses,theta times Increase in accounts payable,Theta oxIncrease in accrued liabilities,oxoxDecrease in income taxes payable,oxNet cash provided by operating activities,theta $
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