Fill in a M-1 and label your work and related line numbers.

If more than one item appears on a M-1 line, write "see below" on the line and detail your calculation for that line below the M-1.

Net income per books (after tax)	$350,000
100% of meals expense	4,100
Federal income tax liability	53,052
Interest income from tax exempt bonds	2,200
Interest paid on loan incurred to purchase tax-exempt bonds	1,000
Life insurance proceeds received as a result of death of CEO	160,000
Premiums paid on policy on life of CEO	4,950
Excess capital losses over capital gains	6,300
Nondeductible fines	1,500
Retained earnings at beginning of year	339,000
Cash dividends paid	60,100
Book depreciation in excess of tax depreciation	4,000

Fill out and show all work.