For the just completed yet Hanna Company had net income of $140,000. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows Current assets Cash and cash equivalent Accounts receivable 64.000 83.000 read expenses Current abilities Accrued liabilities Income taxes payable The Accumulated Depreciation account had total credits of $54.000 during the year. Hanna Company did not record any gains or lasses during the year The company's income statement for the year appears below: 585. eee Cost of goods sold Gross wargin Selling and adhinistrative expenses Incore before taxes Income taxes Not incone Required: Using the direct method, convert the company's 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 Adjustments to a cash basis Austments to a cash basis s Selling and administrative A mnes a cash basis