For the just completed year, Hanna Company had net income of $101,500. Balances in the companys current asset and current liability accounts at the beginning and end of the year were as follows:

The Accumulated Depreciation account had total credits of $54,000 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.)

For the just completed year, Hanna Company had net income of $101,500. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows December 31 Beginning of Year End of Year Current assets: 59,000 82,000 Cash Accounts receivable 170,000 188,000 442,000 340,000 Inventory Prepaid expenses 11,500 13,000 Current liabilities: Accounts payable 352,000 396,000 Accrued liabilities 9,000 12,000 Income taxes payable 35,000 26,000 The Accumulated Depreciation account had total credits of $54,000 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: Net cash provided by operating activities