2 Exercise 15-2 (Algo) Net Cash Provided by Operating Activities (LO15-2] For the year just completed, Hanna Company had net income of $63,500. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: 0.75 points December 31 End of Beginning Year of Year Skipped Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable $ 65,000 $80,000 $ 154,000 $ 198,000 $ 445,000 $361,000 $ 11,500 $ 14,000 eBook $ 356,000 $392,000 $ 8,000 $ 12,500 $ 32,000 $ 29,000 References The Accumulated Depreciation account had total credits of $46,000 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) 0 $ 0 Assume a company had net income of $61,000. It provided the following excerpts from its balance sheet: 12 This Year Last Year $41,000 $57,000 $46,000 $53,000 Current assets: Accounts receivable Inventory Current liabilities: Accounts payable Income taxes payable 0.75 points Skipped $42,000 $14,000 $49,000 $14,000 The company sold a plece of equipment for cash proceeds of $25,000. The original cost of the asset was $85,000 and its accumulated depreciation at the time of sale was $65,000. The company's accumulated depreciation account has beginning and ending balances of $320,000 and $280,000, respectively. Based solely on the Information provided the net cash provided by operating activities would be: eBook References Multiple Choice o $70,000. $75,000 O $82,000 O $72,000