InterTax Inc. INCOME STATEMENT For the Year Ended December 31, 2019 Tax Book 1,880,000 1,880,000 0 2,400 16,400 16,400 1,896,400 1,898,800 Income Consulting fees Tax-exempt interest Interest income on bank accounts Total income Expenses Organization expenses Office salaries Salaries and wages Rent Utilities Advertising Repairs Taxes Employee benefits Interest Office supplies Depreciation Total expenses Net income before charitable contributions Charitable contributions Pre-tax income Federal tax expense Net income 5,707 15,600 800,000 800,000 240,000 240,000 76,800 76,800 12,000 12,000 30,000 30,000 2,000 2,000 10,000 10,000 2,000 2,000 10,000 10,000 7,000 7,000 75,200 30,400 1,270,707 1.235,800 625,693 663,000 62,569 80,000 563,124 583,000 118,256 122,430 444,868 460,570 InterTax Inc., a calendar year C corporation, began operations on January 1, 2019. Based on the income statement provided, complete page 1 of Form 1120, U.S. Corporation Income Tax Return, for Inter Tax's first year of operations. Enter all amounts in the table as positive, whole values. If the amount is zero, enter a zero (). 123 Repairs and maintenance 123 Rent N 123 Taxes and licenses Interest deduction 123 Charitable contributions 123 Depreciation 123 123 Advertising 123 Employee benefit programs Other deductions 123