Mr. A and Beach invested $100,000 to start a plumbing business on 01/01/2020 Prepare 2020 CORPORATE Tax Return (IRS e-file signature Authorization for Form 1120) from the following information Cr Dr 45,000 85,000 30,000 185,000 43,000 70,000 200,000 850,000 1,500 5,000 Cash Accounts Receivable Investment in Stocks/Bonds Equpment Accumulated Depreciation Accounts Payable Common Stock Sales Interest income Dividend ( 5% owned) Cost of sales Salaries to A Salaries to B Other salaries Charitable Contribution Rent Utilities Penalties Advertising Depreciation-MACRS Contract Labor 450,000 60,000 60,000 65,000 1,000 60,000 18,000 1,000 24,000 43,000 42,500 1,169,500 1,169,500 Taxable Income 30,500 Check Figures line # form 1120 11 26 29(c) Amount 406500 60,500 2,500 30,500 108 6,513 5,000 30 34 35 Schedule C 1(a) Schedule L 15(d) 25 Schedule M-1 1 2 5(c) Penalty 10 2 8 302,000 25,280 25,280 6,720 1,000 33,000 25,280 25,280 Schedule M-2