ADJUSTING ENTRIES
	DR	CR
Unrealized Gain / Loss on Marketable Securities	$ 265,000.00
Marketable Securities		$ 265,000.00
Income Taxes	$ 118,200.25
Incom taxes Currently payable		$ 118,200.25
Income taxes Currently Payable	$ 118,575.25
Defferred Tax Liability		$ 118,575.25

Marketable securities on the balance sheet at a cost of $5,500,000 are available-for-sale
Market value at the balance sheet date is $5,235,00
$1,500 in meal and entertainment expenses show as a permanent difference for tax.
The company uses straight line depreciation for book and MACRS depreciation for the tax return
MACRS depreciation was $209,301 higher than book.
There have been recent tax structure changes the could impact the company. Peyton Approved has been a C Corp since the beginning of these changes. Peyton provides for taxes at 25% of pretax income (20% Federal, 5% state).