1,360,000 5. Dove Corporation's financial statement for 2019 is as follows: Gross profit Interest income City bonds $6,000 Corporate bonds 3.000 U.S. Government bonds 1,000 Long-term capital gains Long-term capital losses Total income 10,000 15,000 (18,000) 1,367,000 Expenses Salaries-officers Salaries -clerical and sales Taxes (state, local and payroll) Advertising Rental expenses Repairs and maintenance Interest expenses: Loan to purchase city bonds $10,000 Other business loans 50,000 500,000 200,000 25,000 15,000 120,000 50,000 60,000 Depreciation depreciation for tax purpose is $45,000) Premiums on life insurance on key employees 20,000 12,000 Total expenses Net income before tax Federal income tax Net income per books 1,002,000 365,000 122,060 242,940 Report the Information on Schedule M-1 (please report items that need to be on M-1 for book-tax reconciliation) Items that added back to Net income per books Items that subtract from Net income per books Net income per book $ 242,940 City bonds 6,000 Federal income tax 122,060 subtotal 359,000 Taxable income I filled out a couple of itemizes (in red) to show you how fill out this Sch M-1 Focus