CH. 14 - STATEMENT OF CASH FLOWS Saved Help 5 For the just completed year, Hanna Company had net income of $43,500. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: 1 December 31 End of Beginning Year of Year points Current assets: Cash 79,000 $64,000 $ 166,000 $ $ 198,000 eBook Accounts receivable $445,000 370,000 $ Hint $ 12,500 $14,000 Inventory Prepaid expenses Current liabilities: Accounts payable $368,000 390,000 $ Print Accrued liabilities $ 8,500 $12,000 28,000 $32,000 $ Income taxes payable References The Accumulated Depreciation account had total credits of $52,000 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 and cash outflows as negative amounts.) Hanna Company Statement of Cash Flows-Indirect Method (partial) Net income Adjustments to convert net income to a cash basis