Income tax expense was

$175,000

for the year. Income taxes payable was

$30,000

and

$40,000

at the beginning and end of the year, respectively. Cash payments for income taxes reported on the statement of cash flows using the direct method are\ a.

$165,000

\ b.

$205,000

\ c.

$215,000

\ d.

$175,000

Transcribed Image Text:

Income tax expense was $175,000 for the year. Income taxes payable was $30,000 and $40,000 at the beginning and end of the year, respectively. Cash payments for income taxes reported on the statement of cash flows using the direct method are O a. $165,000 Ob. $205,000 Oc. $215,000 Od $175,000 Income tax expense was $175,000 for the year. Income taxes payable was $30,000 and $40,000 at the beginning and end of the year, respectively. Cash payments for income taxes reported on the statement of cash flows using the direct method are O a. $165,000 Ob. $205,000 Oc. $215,000 Od $175,000