For the just completed year, Hanna Company had net income of $81,500. Balances in the companys current asset and current liability accounts at the beginning and end of the year were as follows:

	December 31
	End of Year		Beginning of Year
Current assets:
Cash	$	62,000	$	76,000
Accounts receivable	$	168,000	$	184,000
Inventory	$	451,000	$	346,000
Prepaid expenses	$	12,000	$	14,500
Current liabilities:
Accounts payable	$	366,000	$	380,000
Accrued liabilities	$	9,000	$	12,500
Income taxes payable	$	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:

Use the indirect method to determine the net cash provided by (or used in) operating activities for the year. (List any deduction in cash and cash outflows as negative amounts.)