Victoria Clothing reported the following amounts related to income taxes on its 2011 income statement.
Income tax benefit from NOL carryback . . . . . . . . . . . . . . . . . . . . . . . . . . $12,000
Income tax benefit from NOL carryforward . . . . . . . . . . . . . . . . . . . . . . . . 28,000
Victoria also reported the following on its December 31, 2010 and 2011, balance sheets.

1. If Victoria uses the indirect method of reporting cash flows, what information concerning income taxes would Victoria include in its statement of cash flows and related disclosure?
2. If Victoria uses the direct method of reporting cash flows, what information concerning income taxes would Victoria include in its statement of cash flows and relateddisclosure?

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2011 2010 Deferred tax asset-NOL carryforward Income tax refund receivable $28,0000 12.0004000