Can you help me with the 2019 Tax return for this please?

Modern Day Clothing, Inc. (MD) is organized as a corporation in the state of West Virginia and is taxed as an "S" corporation with a calendar-year end (additional information about MD can be found in the table below).MD operates four small boutique clothing outlet stores (family clothing stores) in the West Virginia cities of Huntington, Charleston, Morgantown, and Martinsburg.

Name

Address (has not changed since inception)

Employer Identification Number

Date Incorporated

S Election Effective Date

Shares Issued and Outstanding

Modern Day Clothing, Inc.

1515 North Lincoln Highway

Huntington, WV25701

14-2953556

January 1, 2010

January 1, 2010

10,000 common shares

MD is owned by four unrelated shareholders (shareholder-specific information is provided in the table below).There were no stock transfers or changes in stock ownership during the current tax year.

Name

Address

Social Security Number

Shares Owned

Officer Title

2019 Officer Compensation

Jennifer Lyons

85 Shady Elm

Huntington, WV25701

524-31-3493

4,300

Chief Executive Officer

$67,813

Robert Newberry

RD Route 843

Huntington, WV25701

482-26-5241

2,300

Not an officer

N/A

Lamar Taylor

35 S. Main Street

Huntington, WV25701

545-16-4239

2,200

Not an officer

N/A

Lacrecia Williams

9851 Old Colonial Highway

Huntington, WV25701

429-82-9384

1,200

Not an officer

N/A

Additional information:

None of the expenses incurred by MD during the year relate to the production or carrying of the tax-exempt securities held in portfolio.The tax-exempt securities are maintained in a separate brokerage account distinct from other holdings.

MD values its inventory at cost and has always used the specific identification method for reporting purposes.The company has never written down inventory for any reason and the rules of Section 263A (UNICAP) do not apply to MD.

On December 1, 2019, MD made a pro rata distribution to all common stockholders, totaling $61,000.

On July 1, 2019, MD purchased Equipment E that it used to expand its Huntington store.MD desires to maximize its current year cost recovery deductions related to the 2019 additions.

MD pays all of its prior year accrued wages, bonuses, and retirement payments in January of each year.

Supplementary Details:

MD uses the accrual method of accounting.

MD is not a subsidiary nor is it in an affiliated group with any other entity.

MD does not own directly 20%, or, directly and indirectly, 20% or more of any other entity (including corporations or partnerships).

MD has never issued any restrictive stock or publicly traded debt nor been required to file a Form 8918.

MD's annual gross receipts have never exceeded $25,000,000.

MD did not have any non-shareholder debt that was cancelled or was forgiven nor had the terms modified so as to reduce the principal amount of the debt during the tax year.

MD has never made nor caused to be made a qualified subchapter S subsidiary election (Qsub).

MD has never caused a Qsub election to be revoked or terminated.

MD made payments in the current year that required the filing of Forms 1099.All Forms 1099 were filed timely.

MD's activities all represent qualified trades or businesses, and none constitute a specified trade or business. MD paid $167,991 in W-2 wages in 2019.

MD's original, unadjusted basis in all its assets is consistent with historical cost on the balance sheet.

MD's officers devoted 100% of their time to the company.