Caloundra Corporation has book income of $40,000. Included in the book income is $3,000 of tax-exempt interest, $7,000 of book income tax expense, and a $2,000 non-deductible fine. Also included in book income are $10,000 of dividends Caloundra received from a 30 percent owned corporation.

Using this information and Form 1120, provide the amounts that go on each line on the form.

Click here to access a blank Form 1120 and accompanying instructions.

a. Form 1120, Schedule M-1 Line 1 $ ______

b. Form 1120, Schedule M-1, Line 10 $ ______

c. Form 1120, Page 1, Line 28 $ ______

d. Form 1120, Schedule C, Line 2(a) $ _______ Form 1120, Schedule C, Line 2(c) $ ______

e. Form 1120, Schedule C, Line 24 $ ______

f. Form 1120, Page 1, Line 29b $ _______

g. Form 1120, Page 1, Line 30 _________