I need form 1120 for the tax year 2018 (new tax laws, not copied from past wrong answers) and not 3 lines of the cost of goods sold calculation. If you are not capable of answering, do not waste my questions and let someone who knows what are they doing to respond! Thank you for understanding. 
Comprehensive Tax Return Problen On November 1, 2008, Janet Morton and Kim Wong formed Pet Kingdom, Inc., to sell pets and pet supplies. Pertinent information regarding Pet Kingdom is summarized as 1. follows Pet Kingdom's business address is 1010 Northwest Parkway, Dallas, TX 75225; its telephone number is (214) 555-2211; and its e-mail address is petkingdom@ pki.com The employer identification number is 11-1111111, and the principal business activity code is 453910. . Janet and Kim each own 50% ofthe common stock; Janet is president and Kim is vice president of the company. No other class of stock is authorized. Both Janet and Kim are full-time employees of Pet Kingdom. Janet's Social Security number is 123-45-6789, and Kim's Social Security number is 987-65-4321. Pet Kingdom is an accrual method, calendar year taxpayer. Inventories are deter- mined using FIFO and thelower of cost or market method. Pet Kingdom uses the straight-line method of depreciation for book purposes and accelerated deprecia ion (MACRS) for tax purposes. . During 2018, the corporation distributed cash dividends of $250,000. PART5 Business Entiries Pet Kingdom's financial statements for 2018 are shown below. Income Statement Li Ac Or Income 5,750,000 Gross sales Sales returns and allowances Net sales Cost of goods sold Gross profit Dividends received from stock 5 3,250,000 investments in less-than-20%- owned U.S. corporations Interest income: State bonds Certificates of deposit $3,328,750 Total income Salaries-officers: $262,500 262,500 Janet Morton $525,000 725,000 238,000 140,000 Kim Wong Salaries--clerical and sales Taxes (state, local, and payroll) Repairs and maintenance Interest expense: $ 9,000 207,000 Loan to purchase state bonds 216,000 58,000 109,000 Other business loans Advertising Rental expense Depreciation" Charitable contributions Employee benefit programs Premiums on term life insurance 106,000 38,000 60,000 policies on lives of Janet Morton and Kim Wong: Pet Kingdom is the designated beneficiary Total expenses Net income before taxes Federal income tax Net income per books 40,000M (2,255,000 1,073,750 (221,734 tion for tax purposes is $136,000. You are not provided enough detailed data to complete a Form 4562 Idepreciai 0 of Form 1120 Balance Sheet January 1, 2018 December 31, 2018 Cash Trade notes and accounts receivable Inventories Stock investment State bonds Certificates of deposit Prepaid Federal tax Buildings and other depreciable assets Accumulated depreciation $ 1,200,000 2,062,500 2,750,000 1,125,000 375,000 400,000 $ 1,039,461 2,147,000 3,030,000 1,125,000 375,000 400,000 5,455,000 606,000) 812,500 140,000 13,714,000 5,455,000 (712,000 812,500 128,500 13,802,727 Other assets Total assets CHAPTER 12 Corporations: Organization, Capital Structure, and Liabilities and Equity Accounts payable Other current liabilities Mortgages Capital stock Retained earnings January 1, 2018 $2,284,000 December 31, 2018 $ 1,840,711 155,000 175,000 4,625,000 2,500,000 4,130,000 $13,714,000 4,575,000 2,500,000 4,732,016 $13,802,727 Total liabilities and equity During 2018, Pet Kingdom made estimated tax payments of $56,000 each quarter to the IRS. Prepare a Form 1120 for Pet Kingdom for tax year 2018 (if the final 2018 Form 1120 is not available, see if a draft 2018 Form 1120 is available on the IRS website). BRIDGE DISCI Comprehensive Tax Return Problen On November 1, 2008, Janet Morton and Kim Wong formed Pet Kingdom, Inc., to sell pets and pet supplies. Pertinent information regarding Pet Kingdom is summarized as 1. follows Pet Kingdom's business address is 1010 Northwest Parkway, Dallas, TX 75225; its telephone number is (214) 555-2211; and its e-mail address is petkingdom@ pki.com The employer identification number is 11-1111111, and the principal business activity code is 453910. . Janet and Kim each own 50% ofthe common stock; Janet is president and Kim is vice president of the company. No other class of stock is authorized. Both Janet and Kim are full-time employees of Pet Kingdom. Janet's Social Security number is 123-45-6789, and Kim's Social Security number is 987-65-4321. Pet Kingdom is an accrual method, calendar year taxpayer. Inventories are deter- mined using FIFO and thelower of cost or market method. Pet Kingdom uses the straight-line method of depreciation for book purposes and accelerated deprecia ion (MACRS) for tax purposes. . During 2018, the corporation distributed cash dividends of $250,000. PART5 Business Entiries Pet Kingdom's financial statements for 2018 are shown below. Income Statement Li Ac Or Income 5,750,000 Gross sales Sales returns and allowances Net sales Cost of goods sold Gross profit Dividends received from stock 5 3,250,000 investments in less-than-20%- owned U.S. corporations Interest income: State bonds Certificates of deposit $3,328,750 Total income Salaries-officers: $262,500 262,500 Janet Morton $525,000 725,000 238,000 140,000 Kim Wong Salaries--clerical and sales Taxes (state, local, and payroll) Repairs and maintenance Interest expense: $ 9,000 207,000 Loan to purchase state bonds 216,000 58,000 109,000 Other business loans Advertising Rental expense Depreciation" Charitable contributions Employee benefit programs Premiums on term life insurance 106,000 38,000 60,000 policies on lives of Janet Morton and Kim Wong: Pet Kingdom is the designated beneficiary Total expenses Net income before taxes Federal income tax Net income per books 40,000M (2,255,000 1,073,750 (221,734 tion for tax purposes is $136,000. You are not provided enough detailed data to complete a Form 4562 Idepreciai 0 of Form 1120 Balance Sheet January 1, 2018 December 31, 2018 Cash Trade notes and accounts receivable Inventories Stock investment State bonds Certificates of deposit Prepaid Federal tax Buildings and other depreciable assets Accumulated depreciation $ 1,200,000 2,062,500 2,750,000 1,125,000 375,000 400,000 $ 1,039,461 2,147,000 3,030,000 1,125,000 375,000 400,000 5,455,000 606,000) 812,500 140,000 13,714,000 5,455,000 (712,000 812,500 128,500 13,802,727 Other assets Total assets CHAPTER 12 Corporations: Organization, Capital Structure, and Liabilities and Equity Accounts payable Other current liabilities Mortgages Capital stock Retained earnings January 1, 2018 $2,284,000 December 31, 2018 $ 1,840,711 155,000 175,000 4,625,000 2,500,000 4,130,000 $13,714,000 4,575,000 2,500,000 4,732,016 $13,802,727 Total liabilities and equity During 2018, Pet Kingdom made estimated tax payments of $56,000 each quarter to the IRS. Prepare a Form 1120 for Pet Kingdom for tax year 2018 (if the final 2018 Form 1120 is not available, see if a draft 2018 Form 1120 is available on the IRS website). BRIDGE DISCI
