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Zoloff, Inc. had the following balances for the years 20X0 and 20X1: 20X0 I 20X1 Taxes Payable 35,000 37,500 Deferred Tax Asset 20,000 22,000 Income

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Zoloff, Inc. had the following balances for the years 20X0 and 20X1: 20X0 I 20X1 Taxes Payable 35,000 37,500 Deferred Tax Asset 20,000 22,000 Income Tax Expense 120,000 Required: Determine the Cash Paid for Income Taxes during 20X1

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