2021 Federal Statements Page 1 Premium, Inc. 111111120 Statement 1 form 11205, Line 19 Other Deductions Other Deductions Total Statement 2 Form 1120S, Schedule K, tine 12a charitable Contributions Cash Contributions - 60% Limitation . Total Statement 3 Form 1120S, Schedule K, Line 17d other Items and Amounts Gross Receipts for Section 448(c) Statement 4 Form 1120s, Schedule L, Line 6 other Current Assets Beginning Prepaid Expenses Ending Statement 5 Form 1120S, Schedule M-1, line 3 Expenses On Books Not On Schedule K John Parsons (123-45-6781) and George Smith (123-45-6782) are 70% and 30% owners, respectively, of Premium, Inc. (11-1111120), a candy company located at 1005 16th Street, Cut and Shoot, TX 77303. Premium's 5 election was made on January 15 , 2012 , its date of incorporation. The following information was taken from the company's 2021 income statement. Statement 7 form 1120S, Schedule M2, Column A, tine 5 Other Reductions Contributions Penalties Total Statement 8 form 1125-A, tine 5 other Costs Direct other costs Instructions Taxes (65,101) Charitable contributions (cash) (20,000) Advertising expenses (20,000) Payroll penalties (15,000) Other deductions (59,899) Book income 704,574 A comparative balance sheet appears below. Statement 6 Form 11205, Schedule M-2, Column A, tine 3 Other Additions taterest Income Total 4 2021 Federal Statements Page 1 Premium, Inc. 111111120 Statement 1 form 11205, Line 19 Other Deductions Other Deductions Total Statement 2 Form 1120S, Schedule K, tine 12a charitable Contributions Cash Contributions - 60% Limitation . Total Statement 3 Form 1120S, Schedule K, Line 17d other Items and Amounts Gross Receipts for Section 448(c) Statement 4 Form 1120s, Schedule L, Line 6 other Current Assets Beginning Prepaid Expenses Ending Statement 5 Form 1120S, Schedule M-1, line 3 Expenses On Books Not On Schedule K John Parsons (123-45-6781) and George Smith (123-45-6782) are 70% and 30% owners, respectively, of Premium, Inc. (11-1111120), a candy company located at 1005 16th Street, Cut and Shoot, TX 77303. Premium's 5 election was made on January 15 , 2012 , its date of incorporation. The following information was taken from the company's 2021 income statement. Statement 7 form 1120S, Schedule M2, Column A, tine 5 Other Reductions Contributions Penalties Total Statement 8 form 1125-A, tine 5 other Costs Direct other costs Instructions Taxes (65,101) Charitable contributions (cash) (20,000) Advertising expenses (20,000) Payroll penalties (15,000) Other deductions (59,899) Book income 704,574 A comparative balance sheet appears below. Statement 6 Form 11205, Schedule M-2, Column A, tine 3 Other Additions taterest Income Total 4