For the year just completed, Hanna Company had net income of $60,500. 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 Year Current assets: Cash and cash equivalents $ 62,000 $ 152,000 $ 436,000 $12,000 Accounts receivable Inventory Prepaid expenses Current Liabilities: Accounts payable Accrued Liabilities Income taxes payable $ 358,000 $ 7,500 $ 32,000 Beginning of Year $ 85,000 $196,000 $ 355,000 $14,000 $ 396,000 $ 12,000 $ 29,000 The Accumulated Depreciation account had total credits of $48,000 during the year. Hanna Company did not record any gains or losses during the year. Required: Using the indirect method, determine the net cash provided by operating activities for the year. (List any deduction in cash outflows as negative amounts.) Hanna Company Statement of Cash Flows-Indirect Method (partial) Net income Depreciation $ 60,500 $ 48,000 $ 48,000 108,500