Joyce Smithers Inc. reported the following amounts related to income taxes on its 2013 income statement. Income

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Joyce Smithers Inc. reported the following amounts related to income taxes on its 2013 income statement.
Income tax expense-current . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $32,000
Income tax expense-deferred . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (8,000)
Smithers also reported the following amounts on its December 31, 2012 and 2013, balance sheets:
____________________________________2013 ______________2012
Deferred tax liability . . . . . . . . . . . . . . . . . $26,000 ................... $34,000
Income taxes payable . . . . . . . . . . . . . . . . . 10,000 ...................... 4,000
If Smithers uses the indirect method of reporting cash flows, what information concerning income taxes would it include in its statement of cash flows and related disclosure?
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Intermediate Accounting

ISBN: 978-0538479738

18th edition

Authors: Earl K. Stice, James D. Stice

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