Exercise 15-2 (Algo) Net Cash Provided by Operating Activities (LO15-2) 288 ports For the year just completed, Hanna Company had net income of $73,500 Balances in the company's current asset and current labanty accounts at the beginning and end of the year were as follows Book December 31 End of Beginning Year of Year Current assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable $ 56,00 $ 27.000 $ 163,060 $ 190,000 $ 43,000 $352,000 $11,500 $13,500 $360,000 $390,000 $ 8,000 $12,000 $ 34,000 $ 26,000 The Accumulated Depreciation account had total credits of $50,000 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.) 1 Required: Using the Indirect method, determine the net cash provided by operating activities for the year. (List any deduction in cash and cas outflows as negative amounts.) 2.88 points ebook Hint Hanna Company Statement of Cash Flows-Indirect Method (partial) Net income Adjustments to convert net income to a cash basis Decrease in accrued liabilities Depreciation Decrease in accounts receivable Increase in inventory Decrease in prepaid exponses Decrease in accounts payable 0 Increase in income taxes payable Net cash provided by operating activities $ 0