John Parsons (123-45-6781) and George Smith (123-45-6782) are 70% and 30% owners, respectively, of Premium, Inc. (11-1111120), a candy company located at 1005 16th Street, Cut and Shoot, TX 77303. Premiums S election was made on January 15, 2012, its date of incorporation. The following information was taken from the companys 2021 income statement.

Please prepare those shareholders' Schedule K-1 by using the IRS format.

A comparative balance sheet appears below. Premium's accounting firm provides the following additional information. A comparative balance sheet appears below. Premium's accounting firm provides the following additional information