Fictitious information is provided below. Answer both requiredquestions. **Be sure to show your work in detail. Not doing so willresult in reduced or no credit given.
For the year recently completed, TeamLogicIT had net income of$35,000. Balances in the company's current asset and currentliability accounting for the beginning and ending of the year wereas follows:
| 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 |
Also, the accumulated depreciation account had total credits of$20,000 during the year. TeamLogicIT did not record any gains orlosses during the year.
**Based on the above and in consideration of the indirectmethod, determine the net cash provided by operating activities forthe year.
