Required information A company provided the following summary financial statement information: Comparative Balance Sheets (partial) December 31, 2021 and 2020 Income Statement (partial) For the year December 31, 2021 2021 2020 Sales Revenue $570,000 Accounts Receivable Inventory $65,000 $69,000 $79,000 $71,000 Cost of Goods Sold 296,000 Salaries Expense 32,000 Prepaid Insurance $24,000 $7,000 Insurance Expense 48,000 Accounts Payable $45,000 $50,000 Interest Expense (for bond) 120,000 Salaries Payable $9,000 $13,000 Income Tax Expense 60,000 Deferred Tax Liability $51,000 $58,000 Net Income $14,000 Bond Discount $10,000 $12,000 What is cash paid for income taxes? (Click to select) $51,000 $53,000 $67,000 $74,000 $2,000