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17 Part 1 of 2 O Points: 0 of 1 Sansa Accessories Service reported a decrease in income taxes payable of $4,000 during the year
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Part 1 of 2 O Points: 0 of 1 Sansa Accessories Service reported a decrease in income taxes payable of $4,000 during the year and an increase in deferred-tax liability of $3,100. Its income tax expense was $2,200. Requirements a. What is cash paid for income taxes? b. What would Sansa report in the operating section of the cash flow statement under the indirect method? Requirements a. What is cash paid for income taxes? Compute the cash paid for income taxes under the direct method. (Use a minus sign or parentheses for any numbers to be subtracted. If an input field is not used in the statement, leave the field empty; do not select a label or enter a zero.) Cash Paid for Income Taxes: Cash Paid for Income TaxesStep by Step Solution
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