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Chapter 14 Problems Saved Help Save & Exit Submit Check my work For the just...

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Accounting

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Chapter 14 Problems Saved Help Save & Exit Submit Check my work For the just completed year, Hanna Company had net income of $44,500. 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 Beginning 5 points Yearof Year Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses 55, 000 80,000 $168,000 $192,000 $436,000 $361,000 11,00013,000 eBook Current liabilities: Hint Accounts payable Accrued liabilities Income taxes payable $370,000 $392,000 $ 9,000 11,500 Print $33,000 28,000 References The Accumulated Depreciation account had total credits of $60,000 during the year. Hanna Company did not record any gains or losses during the yean 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)

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