Answer the following:

1. Use the financial data to COMPLETE Form 1120 (not listed)

2. Show income tax calculations (how you got your answer)

INVESTOR INFORAMTION First Name Last Name Anderson SSN 756-12-1111 756-12-2222 756-12-3333 756-12-4444 756-12-5555 756-12-6666 756-12-7777 Address State Shareholder Information Shareholder Shareholder Shareholder Shareholder Shareholder Shareholder Shareholder Andrew Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta 30039 30039 30039 30039 30039 30039 30039 20 S 30 S Da Elders Fawcett Gonzalez El Farah GA Wa INVESTMENT IN STOCK Investor Contribution Contribution I Contribution 2 Contribution 3 Contribution 4 Item ValueItem Value Contribution Interest Sharholder SSN 756-12-1111 756-12-2222 756-12-3333 756-12-4444 756-12-5555 756-12-6666 756-12-7777 First Name Last Name Item 50,000 50,000 S150,000 S100,000 50,000 $40.000 $80,000 AndrewAnderson 4/2/16 4/2/16 4/2/16 S150,000 $100,000 Cath 20% Da Elders Fawcett $50,000 $40,000 S30,000 Land $10,000 Computer ris 10% Farah 50,000 $7,000 Fumiture$3,000 16% 4/2/16 Cash 100% BALANCE SHEET-BEGINNING BADEC, Inc Balance Sheet As of 4/2/2016 Assets Computer Furniture Land 430,000.00 7,000.00 3,000.00 50,000.00 490.000.00 Total Assets Liabilities Total Liabilities Stockholders Equity Common Stock Retained Earnings 490.000.00 0.00 490,000.00 INCOME STATEMENT BADEC, Inc. Income Statement For the period: 04/02/2016-12/31/2016 Gross Income Repair Revenue Interest Income $100,000.00 600.00 2000.00 5000.00 $107,600.0 Net Short-term Capital Gain Total Income from all sources Expenses and 5,500.00 ,500.00 2,065.75 500.00 800.00 700.00 0,000.00 5,000.00 36,065.75 Renovation Expense Rent Depreciaton expense Travel Expenses Supplies Expenses Net Long-term Capital Loss Charitable Contributions Total Expenses Net Income (before federal income taxes) $71.534 25 BADEC INC Statement of Retained earnings For the Period 04/02/2016-12/31/2016 $0.00 $71,534.25 Beginning etained Earnings Net Income Cash Divid nd 06-30-2016, $5000 Cash Divide nd 09/30/2016. $6,000 Cash Divid nd 12/30/2016. $7,000 Total Dividends paid $18,000 $53,534.25 Retained E 12/31/2016 BALANCE BADEC Inc SHEET ENDING Balance Sheet 12/31/16 Assets Cash Computer AccDep-Computer Furniture AccDep-Furniture Land $485,600.00 7,000.00 1,745.21) 3,000.00 (320.55) 50,000.00 $ 543534.25 Total Assets Liabilities Total Liabilities Stockholders Equity Common Stock Retained Earnings $ 490,000.00 53,534.25 3,534.25 Total Liabilities and StockholdersE 12/31/2016 ets $485,600 $7,000 $(1.745) $3,000 $(321) $50,000 $543,534 mputer ccDep-Computer Furniture cDep-Furniture Total Assets Liabilities Equity $53,534 $50,000 $150,000 $100,000 $50,000 $40,000 $80,000 $20,000 $543,534 etained Earnings tock-Anderson tock-Bacon Stock-Cox tock-Day Stock-Elders Stock-Fawcett Stock-Gonzalez Total Liabilities plus Equity INVESTOR INFORAMTION First Name Last Name Anderson SSN 756-12-1111 756-12-2222 756-12-3333 756-12-4444 756-12-5555 756-12-6666 756-12-7777 Address State Shareholder Information Shareholder Shareholder Shareholder Shareholder Shareholder Shareholder Shareholder Andrew Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta 30039 30039 30039 30039 30039 30039 30039 20 S 30 S Da Elders Fawcett Gonzalez El Farah GA Wa INVESTMENT IN STOCK Investor Contribution Contribution I Contribution 2 Contribution 3 Contribution 4 Item ValueItem Value Contribution Interest Sharholder SSN 756-12-1111 756-12-2222 756-12-3333 756-12-4444 756-12-5555 756-12-6666 756-12-7777 First Name Last Name Item 50,000 50,000 S150,000 S100,000 50,000 $40.000 $80,000 AndrewAnderson 4/2/16 4/2/16 4/2/16 S150,000 $100,000 Cath 20% Da Elders Fawcett $50,000 $40,000 S30,000 Land $10,000 Computer ris 10% Farah 50,000 $7,000 Fumiture$3,000 16% 4/2/16 Cash 100% BALANCE SHEET-BEGINNING BADEC, Inc Balance Sheet As of 4/2/2016 Assets Computer Furniture Land 430,000.00 7,000.00 3,000.00 50,000.00 490.000.00 Total Assets Liabilities Total Liabilities Stockholders Equity Common Stock Retained Earnings 490.000.00 0.00 490,000.00 INCOME STATEMENT BADEC, Inc. Income Statement For the period: 04/02/2016-12/31/2016 Gross Income Repair Revenue Interest Income $100,000.00 600.00 2000.00 5000.00 $107,600.0 Net Short-term Capital Gain Total Income from all sources Expenses and 5,500.00 ,500.00 2,065.75 500.00 800.00 700.00 0,000.00 5,000.00 36,065.75 Renovation Expense Rent Depreciaton expense Travel Expenses Supplies Expenses Net Long-term Capital Loss Charitable Contributions Total Expenses Net Income (before federal income taxes) $71.534 25 BADEC INC Statement of Retained earnings For the Period 04/02/2016-12/31/2016 $0.00 $71,534.25 Beginning etained Earnings Net Income Cash Divid nd 06-30-2016, $5000 Cash Divide nd 09/30/2016. $6,000 Cash Divid nd 12/30/2016. $7,000 Total Dividends paid $18,000 $53,534.25 Retained E 12/31/2016 BALANCE BADEC Inc SHEET ENDING Balance Sheet 12/31/16 Assets Cash Computer AccDep-Computer Furniture AccDep-Furniture Land $485,600.00 7,000.00 1,745.21) 3,000.00 (320.55) 50,000.00 $ 543534.25 Total Assets Liabilities Total Liabilities Stockholders Equity Common Stock Retained Earnings $ 490,000.00 53,534.25 3,534.25 Total Liabilities and StockholdersE 12/31/2016 ets $485,600 $7,000 $(1.745) $3,000 $(321) $50,000 $543,534 mputer ccDep-Computer Furniture cDep-Furniture Total Assets Liabilities Equity $53,534 $50,000 $150,000 $100,000 $50,000 $40,000 $80,000 $20,000 $543,534 etained Earnings tock-Anderson tock-Bacon Stock-Cox tock-Day Stock-Elders Stock-Fawcett Stock-Gonzalez Total Liabilities plus Equity