Operating Cash Flow: Deferred Income Taxes
Using the following information, compute cash paid for income taxes.
|
Reported income tax expense |
$20,000 |
|
|
|
End of Year |
Beginning of Year |
|
Income taxes payable |
$ 1,250 |
$ 1,130 |
|
Deferred income tax liability |
43,000 |
41,750 |