Instructions Computational Template for Applying Five-Step Procedure Form 1041 Schedule K-1 for Betty Blue Instructions Note: This problem is for the 2018 tax year. Prepare the 2018 fiduciary income tax return (Form 1041) for the Blue Trust. Complete the computational template for applying the five- step procedure and Form 1041 for the entity. In addition, determine the amount and character of the income and expense items that each beneficiary must report for the year, and prepare a Schedule K-1 for Betty Blue. Omit all alternative minimum tax computations. The year's activities of the trust include the following. Dividend income, all U.S. stocks $50,000 Taxable interest income 10,000 Tax-exempt interest income 15,000 Fiduciary's fees 4,000 The trust and Betty both use the calendar tax year. Under the terms of the trust instrument, fiduciary's fees are allocated to income. The trustee must distribute all of the entity's accounting income to Betty Blue by February 15 of the following year. The trustee followed this charge and made no other distributions during the year. Fiduciary's fees properly were assigned as an offset to taxable interest income. The trust was created on July 8, 2000. There are no tax credits for the year, and none of the entity's income was derived from a personal services contract. The trust has no economic interest in any foreign trust. Its Federal identification number is 11-1111111. The trustee, Hoover State Federal Bank, is located at 4959 Cold Harbor Boulevard, Mountain Brook, AL 35223. Its employer identification number is 98-7654321. Betty lives at 67671 Crestline Road, Birmingham, AL 35212. Her Social Security number is 123-45-6788. Note: If an amount box does not require an entry or the answer is zero, enter "o". Enter all amounts as positive numbers, unless otherwise instructed. If required, round amounts to the nearest dollar. Make realistic assumptions about any missing data