For the year just completed, Hanna Company had net income of $39,500. 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 equivalents. Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable: Accrued liabilities Income taxes payable! December 31 End of Year $ 58,000 $ 150,000 $430,000 $12,500 $ 356,000 $ 8,500. $ 34,000 Beginning of Year $ 78,000 $ 192,000 $ 355,000 $13,500 $ 386,000 $ 12,000 26,000 $ The Accumulated Depreciation account had total credits of $52,000 during the year. Hanna Company did not record any gains or losses during the year.