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Caloundra Corporation has book income of $40,000. Included in the book income is $3,000 of tax-exempt interest and a $2,000 non-deductible fine. Also included in

Caloundra Corporation has book income of $40,000. Included in the book income is $3,000 of tax-exempt interest and a $2,000 non-deductible fine. Also included in book income are $10,000 of dividends Caloundra received from a 30% 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 20 $
f. Form 1120, Page 1, Line 29b $
g. Form 1120, Page 1, Line 30

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