Question
Amara Company reported net income of 6,000,000 and provided the following information for the current year: Amortization of patent 50,000 Depreciation on plant assets 1,700,000
Amara Company reported net income of 6,000,000 and provided the following information for the current year: Amortization of patent 50,000 Depreciation on plant assets 1,700,000 Long-term debt: Bond discount amortization 60,000 Interest paid 950,000 Income tax: Income tax expense 350,000 Increase in deferred tax liability 20,000 Purchased of additional financial asset at FVPL 1,000,000 Unrealized loss on financial asset hel for trading 100,000 Unrealized loss on financial asset at FVOCI 400,000
What is the amount of income tax paid for the current year?
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