Mr.X and Y each invested $50,000 to start a plumbing business on 01/01/2018 Prepare 2018 CORPORATE Tax Return from the following information Dr 23,000 85,000 30,000 185,000 6 Cash 7 Accounts Receivable 8 Investment in Stocks/Bonds 9 Equpment 10 Accumulated Depreciation 11 Accounts Payable 12 Common Stock 13 Sales 14 Interest income 15 Dividend ( 5% owned) 16 Cost of sales 17 Salaries to X 18 Salaries to Y 19 Other salaries 20 Charitable Contribution 21 Rent 22 Utilities 23 Penalties 24 Advertising 43,000 120,000 100,000 873,000 2,500 1,500 450,000 50,000 50,000 85,000 1,000 60,000 18,000 1,000 24,000 25 Depreciation-MACRS 26 Contract Labor 43,000 35,000 1,140,000 1,140,000 Taxable income 32 Check Figures 34 form line # 1120 Amount 427000 53,000 750 60,250 29 0 12,653 1,500 41 Schedule C 10 750 750 46 ScheduleL 15(d) 280,000 25 Depreciation-MACRS 26 Contract Labor 43,000 35,000 1,140,000 1,140,000 Taxable income S 32 Check Figures 34 form line # 1120 290 Amount 427000 53,000 750 60,250 0 12,653 1,500 41 Schedule C E 10 750 750 46 ScheduleL 1 5(d) 280,000 25(d) 48 Schedule M-1 5 Penalty 50,012 47,347 12,653 1,000 61,000 61,000 47,347 47,347 53 Schedule M-2 CONO Mr.X and Y each invested $50,000 to start a plumbing business on 01/01/2018 Prepare 2018 CORPORATE Tax Return from the following information Dr 23,000 85,000 30,000 185,000 6 Cash 7 Accounts Receivable 8 Investment in Stocks/Bonds 9 Equpment 10 Accumulated Depreciation 11 Accounts Payable 12 Common Stock 13 Sales 14 Interest income 15 Dividend ( 5% owned) 16 Cost of sales 17 Salaries to X 18 Salaries to Y 19 Other salaries 20 Charitable Contribution 21 Rent 22 Utilities 23 Penalties 24 Advertising 43,000 120,000 100,000 873,000 2,500 1,500 450,000 50,000 50,000 85,000 1,000 60,000 18,000 1,000 24,000 25 Depreciation-MACRS 26 Contract Labor 43,000 35,000 1,140,000 1,140,000 Taxable income 32 Check Figures 34 form line # 1120 Amount 427000 53,000 750 60,250 29 0 12,653 1,500 41 Schedule C 10 750 750 46 ScheduleL 15(d) 280,000 25 Depreciation-MACRS 26 Contract Labor 43,000 35,000 1,140,000 1,140,000 Taxable income S 32 Check Figures 34 form line # 1120 290 Amount 427000 53,000 750 60,250 0 12,653 1,500 41 Schedule C E 10 750 750 46 ScheduleL 1 5(d) 280,000 25(d) 48 Schedule M-1 5 Penalty 50,012 47,347 12,653 1,000 61,000 61,000 47,347 47,347 53 Schedule M-2 CONO