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Business, 13.05.2021 18:30 jahnoibenjamin

For the just completed year, Hanna Company had net income of $35,000. 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 Year Beginning of Year
Current assets:
Cash and cash equivalents $30,000 $40,000
Accounts receivable $125,000 $106,000
Inventory $213,000 $180,000
Prepaid expenses $6,000 $7,000
Current liabilities:
Accounts payable $210,000 $195,000
Accrued liabilities $4,000 $6,000
Income taxes payable $34,000 $30,000
The Accumulated Depreciation account had total credits of $20,000 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.

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For the just completed year, Hanna Company had net income of $35,000. Balances in the company’s curr...
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