Kalmont's statement presents “taxes paid: 420,000” in operating, equal to total tax expense (of which 70,000 is deferred tax); the current tax liability rose from 50,000 to 80,000 (case data). What corrected amount should be presented?
Kalmont's statement presents “taxes paid: 420,000” in operating, equal to total tax expense (of which 70,000 is deferred tax); the current tax liability rose from 50,000 to 80,000 (case data). What corrected amount should be presented?