Ying Corporation, a Japanese Construction Firm, Reported a Balance in Income

Multiple Choice

Ying Corporation, a Japanese construction firm, reported a balance in Income Taxes Payable of ¥3,700 million at the beginning of 2013 and ¥14,300 million at the end of 2013.Net income before income taxes for 2013 totaled ¥73,000 million.Assume that the firm is subject to an income tax rate of 43%.Compute the amount of cash payments made for income taxes during 2013.(Ying Corporation applies Japanese accounting standards, and reports its results in millions of yen (¥) .In answering this question, assume that Ying Corporation uses either U.S.GAAP or IFRS; for purposes of this problem, this choice will not matter.)

A) ¥10,600 million
B) ¥17,090 million
C) ¥20,790 million
D) ¥73,000 million
E) none of the above