Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable December 31 End of Year $ 30,000 $125,000 $ 213,000 $ 6,000 $210,000 $ 4,000 $ 34,000 Beginning of Year $ 40,000 $ 106,000 $ 180,000 $ 7,000 $ 195,000 $ 6,000 $ 30,000 The Accumulated Depreciation account had total credits of $20,000. Hanna Company's net income was $35,000 and it did not record any gains or losses on the sale of noncurrent assets. Required: Using the indirect method, calculate the net cash provided by operating activities for the year. Note: Cash outflows and amounts to be deducted should be indicated with a minus sign. Hanna Company Statement of Cash Flows-Indirect Method (partial) Net income Adjustments to convert net income to a cash basis: Decrease in accrued liabilities 1,000 15,000 4,000 $ 35,000 20,000 $ 55,000