Saved Help Save & Exit Submit Check my work 1 Gable, Inc., is a provider of home furnishings. The company uses the FIFO inventory method. The following information was taken from the company's recent financial statements (dollar amounts are in thousands). Cost of goods sold Income before taxes $1, 850, 000 Income taxes expense (and payments ) 125, 000 Net income 52, 500 Net cash provided by operating activities 72, 500 123, 250 The financial statements also revealed that had Gable been using LIFO, its cost of goods sold would have been $1,865,000. The company's income taxes and payments amount to approximately 40 percent of income before taxes. b. Assuming that Gable had been using LIFO, compute the following amounts for the current year. Assume the Direct method was used in computing the Net Cash Provided by Operating Activities. (Enter your answers in thousands of dollars.) Income before taxes Income taxes expense Net income Net cash provided by operating activities P X ENG 11:27 PM R N 9/24/2019 e to search