Bulldog Incorporated is a Georgia corporation. It properly included, deducted, or excluded the following items on its federal tax return in the current year:

Item	Amount		Federal Treatment
Georgia income taxes	$	25,496	Deducted on federal return.
Tennessee income taxes	$	13,653	Deducted on federal return.
Washington gross receipts tax	$	3,105	Deducted on federal return.
Georgia bond interest income	$	10,000	Excluded from federal return.
Federal T-note interest income	$	4,500	Included on federal return.
Bonus depreciation	$	15,096	Deducted on federal return.

b. Complete Schedule 1, Page 1, of Form 600 for Bulldog.

COMPUTATION OF GEORGIA TAXABLE INCOME AND TAX (ROUND TO NEAREST DOLLAR) SCHEDULE 1 By checking the box, the S Corporation elects to pay the tax on behalf of its shareholders due to a Georgia audit. 1 1. Georgia Taxable Income (See instructions) 2. 2. Tax-6% x Line 1 COMPUTATION OF NET WORTH RATIO(to be used by Foreign Corporations only) (ROUND TO NEAREST DOLLAR) SCHEDULE 2 . GA Rai (B) DO NOT ROUND A WITHIN GEORGIA B. TOTAL EVERYWHERE COMPUTE TO SIx DECIMALS 1. Total value of property owned (Total assets from Federal balance sheet) 1. 2. 2. Gross receipts from business 3. Totals (Line 1 +2) 4. Georgia ratio (Divide Line 3A by 3B) 3 (ROUND TO NEAREST DOLLAR) SCHEDULE 3 COMPUTATION OF NET WORTH TAX 1. Total Capital stock issued 2. Paid in or Capital surplus 1 2. 3. Total Retained eamings. 3. 4. Net Worth (Total of Lines 1, 2, and 3) 4 5. 5. Ratio (GA and Dom. For. Corp.-100 % ) ( Foreign Corp. Line 4. Sch. 2) 8. Net Worth Taxable by Georgia (Line 4 x Line 5) 7. Net Worth Tax (from table in instructions). 6. 7. COMPUTATION OF GEORGIA TAXABLE INCOME AND TAX (ROUND TO NEAREST DOLLAR) SCHEDULE 1 By checking the box, the S Corporation elects to pay the tax on behalf of its shareholders due to a Georgia audit. 1 1. Georgia Taxable Income (See instructions) 2. 2. Tax-6% x Line 1 COMPUTATION OF NET WORTH RATIO(to be used by Foreign Corporations only) (ROUND TO NEAREST DOLLAR) SCHEDULE 2 . GA Rai (B) DO NOT ROUND A WITHIN GEORGIA B. TOTAL EVERYWHERE COMPUTE TO SIx DECIMALS 1. Total value of property owned (Total assets from Federal balance sheet) 1. 2. 2. Gross receipts from business 3. Totals (Line 1 +2) 4. Georgia ratio (Divide Line 3A by 3B) 3 (ROUND TO NEAREST DOLLAR) SCHEDULE 3 COMPUTATION OF NET WORTH TAX 1. Total Capital stock issued 2. Paid in or Capital surplus 1 2. 3. Total Retained eamings. 3. 4. Net Worth (Total of Lines 1, 2, and 3) 4 5. 5. Ratio (GA and Dom. For. Corp.-100 % ) ( Foreign Corp. Line 4. Sch. 2) 8. Net Worth Taxable by Georgia (Line 4 x Line 5) 7. Net Worth Tax (from table in instructions). 6. 7