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cash flow and income taxes joyce smithers inc reported the following amounts related 692745

Cash Flow and Income Taxes

Joyce Smithers Inc. reported the following amounts related to income taxes on its 2008 income statement.

Income tax expense—current

$32,000

Income tax expense—deferred

(8,000)

Smithers also reported the following amounts on its December 31, 2007 and 2008, balance sheets:

 

2008

2007

Deferred tax liability.

$26,000

$34,000

Income taxes payable

10,000

4,000

If Smithers uses the indirect method of reporting cash flows, what information concerning income taxes would it include in its statement of cash flows and related disclosure?

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