For the just completed year, Hanna Company had net income of $164,000. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of beginning Year of Year Current assets cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable $ 61,00 $ 158,000 $ 429,000 $ 12, 100 S Beece 186, S 367,00 5 14,100 $ 358,00 $ 7,400 $ 39,000 5 392,000 $ 12,400 $ 34,000 The Accumulated Depreciation account had total credits of $40,000 during the year. Hanna Company did not record any gains or losses during the year. The company's income statement for the year appears below. $1.000.000 59.B 500.00 Sales Cost of goods sold Gross margin Sellang and administrative expenses Incore before taxes Income taxes Net income 28 . 36 de 164,00 Required: Using the direct method, convert the companys income statement to a cash basis (Adjustment amounts that are to be deducted should be indicated with a minus sign.) Hanna Company Direct Method of Determining the Net Cash Flows from Operating Activities - Cass