For the year just completed, Hanna Company had net income of $58,500. 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 $ 62,000 $158,000 $433,000 $ 12,500 $ 356,000 $ 8,500 $ 33,000 Beginning of Year $ 82,000. $196,000 $352,000 $ 13,500 $390,000 $ 12,500 $ 30,000 The Accumulated Depreciation account had total credits of $56,000 during the year. Hanna Company did not record any gains or losses during the year.