For the just completed year, Hanna Company had net income of $87,000. 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	$	63,000	$	82,000
Accounts receivable	$	160,000	$	182,000
Inventory	$	451,000	$	349,000
Prepaid expenses	$	11,500	$	14,500
Current liabilities:
Accounts payable	$	350,000	$	384,000
Accrued liabilities	$	8,500	$	12,500
Income taxes payable	$	34,000	$	26,000

The Accumulated Depreciation account had total credits of $58,000 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.)

Hanna Company
Statement of Cash FlowsIndirect Method (partial)
Net income
Adjustments to convert net income to a cash basis:
Depreciation
Decrease in accounts receivable
Increase in inventory
Decrease in prepaid expenses
Decrease in accounts payable
Decrease in accrued liabilities
Increase in income taxes payable
		0
Net cash provided by (used in) operating activities		$0