Saved For the just completed year, Hanna Company had net income of $69,500. Balances in the company's current asset and current liability accounts at th beginning and end of the year were as follows: End of Beginning Year of Year Current assets Cash and cash equivalents s 56,000 $ 85,000 $168,000 $180,000 $436,000 $361,000 12,000 13,500 Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued 1iabilities $360,000 $388,000 $8,500 12,500 35,000 26,000 ncose taxes payable 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 Required: Using the indirect method, determine the net cash provided by operating activities for the year (List any deduction in' cash and cash outflows as negative amounts.) Hanna Company Statement of Cash Flows-Indirect Method (partial) Net income Adjustments to convert net income to a cash basis Depreciation Decrease in accounts receivable Decrease in accounts payable Increase in inventory Decrease in prepaid expenses Increase in accounts payable Decrease in accrued labilities Increase in income taxes payable cash provided by operating activities Prey 1 of 9Next >