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Lubuck Corporation's income statement shows a provision for income taxes of $55 million in 2015. At the end of 2015, Lubuck's balance sheet reported income
Lubuck Corporation's income statement shows a provision for income taxes of $55 million in 2015. At the end of 2015, Lubuck's balance sheet reported income taxes payable of $18 million and deferred taxes of $20 million. At the end of 2016 their balance sheet shows income taxes payable of $20 million and deferred taxes of $17 million. What were Lubucks taxes paid in 2016? (Points : 3.5) |
$50 million $54 million $60 million $56 million None of the above.
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