George Corporation is an S corporation started on January 1, 2020, with 50 shares owned by Trey Martin and 50 shares owned by Brianna Tabor. The corporation is located at 15620 McMullen Hwy SW, Cumberland, MD 21502 and has EIN 948888888. The corporation is not subject to any special taxes and no wages are included in cost of goods sold. The corporation's income statement for the year and the balance sheet at year-end are presented below.

The George Corporation Income Statement for the Year Ended December 31, 2020
Gross income from operations			$320,000
Qualified dividends received from a 15 percent-owned domestic corporation			20,000
Total gross income			340,000
Cost of goods sold			(70,000)
Total income			270,000
Other expenses:
Compensation of officers	$80,000
Salaries and wages	20,000
Bad debts (direct charge-offs)	9,000
Repairs	3,000
Depreciation for book (tax depreciation = $90,000)	10,000
Advertising	3,000
Payroll taxes	15,000
Total other expenses			(140,000)
Net income			$130,000
The George Corporation Balance Sheet as of December 31, 2020
Assets:
Cash	$109,000
Accounts receivable	20,000
Inventory (at cost)	70,000
Other assets	40,000
Equipment	90,000
Less: accumulated depreciation	(10,000)
Total assets			$319,000
Liabilities and owners' equity:
Accounts payable	$24,000
Note payable (due in 10 years)	85,000
Common stock	80,000
Retained earnings	130,000
Total liabilities and owners' equity			$319,000

Required: Prepare Form 1120-S and Brianna's K-1 form She lives at 12 Bowery St., Frostburg, MD 21532 and has SSN 444-115555.

*****HOW MUCH ARE THE ORDINARY DIVIDENDS?*******