Indigo Corporation shows income tax expense of $313200. There has been a $34800 decrease in federal income taxes payable and a $48700 increase in state income taxes payable during the year. Using the direct method of reporting cash flows from operating activities, what was Indigo's cash payment for income taxes?

$313200.

$396700.

$229700.

$299300.

Answer rating: 100% (QA)

A 1 Cash payment for income tax using direct method 2 3 ... View the full answer