Hanna Company's current asset and current liability account balances at the beginning and end of the year were as follows:
December 31
Beginning of
Year
End of Year
Current assets:
Cash and cash equivalents
$ 57,000
$ 84,000
Accounts receivable
$ 158,000
$ 192,000
Inventory
$ 442,000
$ 358,000
Prepaid expenses
$ 12,000
$ 14,500
Current liabilities:
Accounts payable
$ 362,000
$ 394,000
$ 8,000
$ 12,000
$ 36,000
$ 26,000
Accrued liabilities
Income taxes payable
The Accumulated Depreciation account had total credits of $60,000. Hanna Company's net income was $53,000 and it did not record
any gains or losses on the sale of noncurrent assets.
Required:
Using the indirect method, calculate the net cash provided by operating activities for the year.
Note: Cash outflows and amounts to be deducted should be indicated with a minus sign.
Hanna Company
Statement of Cash Flows-Indirect Method (partial)
0
$
0
