For the just completed year, Hanna Company had net income of $72,000. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 1 Beginning of Year End of Year Current assets: Cash and cash equivalents 56,000 79,000 Accounts receivable 92,000 $ 12,000 $ 13,500 Prepaid expenses Current liabilities: Accounts payable $360,000 $382,000 s 8,500 s 12,500 Accrued liabilities Income taxes payable 34,000 29,000 The Accumulated Depreciation account had total credits of $46,000 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 72,000 Adjustments to convert net income to a cash basis: 46,000 $ Depreciation Decrease in accounts receivable Decrease in prepaid expenses Increase in inventory Decrease in accounts payable Decrease in accrued liabilities Increase in income taxes payable 46,000 Net cash provided by operating activities $ 118,000