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a. Corporate financial statement: net Income of $55,750 Including tax expense of $16,500, charitable contributions of $3,000, and depreciation expense of $39,250. Depreciation expense for
a. Corporate financial statement: net Income of $55,750 Including tax expense of $16,500, charitable contributions of $3,000, and depreciation expense of $39,250. Depreciation expense for tax purposes is $48,400. b. Corporate financial statement: net Income of $145,000 Including tax expense of $70,250, charitable contributions of $28,000, depreciation expense of $106,750, and meals expenses of $32,500. Depreciation expense for tax purposes is $149,500. c. Corporate financial statement: net Income of $232,750 Including tax expense of $113,700, charitable contributions of $16,000, municipal bond Interest of $20,950, meals expenses of $45,500, capital gains of $6,750, and depreciation expense of $147,250. Depreciation expense for tax purposes is $134,750, and the corporation has a $7,525 charitable contribution carryforward for the current year. Complete the question by entering your answers in the tabs below. Required a Required b Required Corporate financial statement: net income of $55,750 including tax expense of $16,500, charitable contributions of $3,000, and depreciation expense of $39,250. Depreciation expense for tax purposes is $48,400. (Input all values as positive numbers.) Schedule M-1 Reconciliation Income (Loss) per Books With Income per Return Note: The corporation may be required to file Schedule M-3 (see instructions). 1 Net income (loss) per books 2 Federal income tax per books 3 Excess of capital losses over capital gains 4 Income subject to tax not recorded on books this year (itemize) Income recorded on books this year not included on this return itemize) Tax-exempt interest 5 Expenses recorded on books this year not deducted on this return (itemize) a Depreciation b Charitable contributions c Travel and entertainment Deductions on this return not charged against book income this year (itemize): a Depreciation b Charitable contrib. 6 Add lines 1 through 5 09 Add lines 7 and 8 10 Income (page 1, line 28) - line 6 less line 9 Required a Required b >
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