For the just completed year, Hanna Company had net income of $61,000. 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: Cash Accounts receivable Inventory Prepaid expenses $ 58,000 78,000 $ 168,000 $190,000 $ 439,000 $ 361,000 $ 12,000 14,000 Current liabilities: Accounts payable Accrued liabilities $364,000 388,000 $ 8,500 $ 12,500 $ 33,000 27,000 Income taxes payable 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