Golden Cumulus Corp., a commodities trading company, reported interest expense of $19 million and taxes of $6

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Golden Cumulus Corp., a commodities trading company, reported interest expense of $19 million and taxes of $6 million. Interest payable increased by $3 million, and taxes payable decreased by $4 million over the period. How much cash did the company pay for interest and taxes?

A. $22 million for interest and $10 million for taxes.

B. $16 million for interest and $2 million for taxes.

C. $16 million for interest and $10 million for taxes.

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International Financial Statement Analysis CFA Institute Investment Series

ISBN: 9780470287668

1st Edition

Authors: Thomas R. Robinson, Hennie Van Greuning CFA, Elaine Henry, Michael A. Broihahn, Sir David Tweedie

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