For the year just completed, Hanna Company had net income of $50,000. 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 $ 59,000 $ 84,000 $154,000 $198,000 $430,000 $370,000 $ 12,000 $ 13,500 $356,000 $392,000 $ 7,500 $ 12,000 $ 33,000 $ 26,000 The Accumulated Depreciation account had total credits of $60,000 during the year. Hanna Company did not record any gains or losses during the year, X Answer is not complete. 50,000 Hanna Company Statement of Cash Flows-Indirect Method (partial) Net income $ Adjustments to convert net income to a cash basis: Depreciation $ 60,000 Increase in income taxes payable Increase in inventory Decrease in accounts payable Decrease in prepaid expenses Decrease in accrued liabilities 4,501- Decrease in accounts receivable 64,500 114,500 Net cash provided by operating activities $