Need to provide appropriate forms based off of following information below.

C Corporation Tax Return Banner, Inc. (a C corporation) is located at 90 Fifth Avenue. New "isengaged in the sale of self- calendar year ano acct for identification number (EIN) is 12-1234568. The company was incorporated on January 1, 1941 and began business on April 1, 1941. Banner, Inc. made the following estimated tax payments for 2019: April 15, 2019 June 15, 2019 $157,500 September 15, 2019 142,500 December 15, 2019 150,000 Total 150.000 $600,000 Taxable income in 2018 was $3.0 million and the 2018 tax was $630,000. The corporation earned its 2019 taxable income evenly throughout the year. Therefore, it does not use the annualization or seasonal methods. Inventory and Cost of Goods Sold: rporation uses the periodic inventory method and prices its inventory using the lower of FIFO cost or market. Only beginning inventory, ending inventory. "escapeds sold, The corporation is appropriate form. No other costs of expenses ofsales because average gross income for the exempt from the uniform cap previous three years was less than $10 million. The following information should also be included on he applicable form: Line 9 (a) Check (ii) (b).(c). & (d) Not applicable (e) & (1) No Compensation of Officers: Officer Social Security # % Time Devoted % of Stock Be A 987-65-4321 to Business Amount of $ 300,000 Wayne Prince 123-98-4567 150.000 ad Debts For tax purposes, the corporation uses the direct write-off method of deducting bad debts. For book purposes, the corporation uses an allowance fo charged $85,000 to the allowance account, such amount representing actual write-offs for 2019. Additional information for Schedule K: Accrual Do not check box 451140 Retail Sales Fill in the correct amount Self-Protection Gear Do not check box No Not applicable Yes, omit Schedule G 15a No No Do not check box 6-7 No 16-19 capital Gains and Losses: The corporation sold 100 shares of Shield Corp. common stock on October 7, 2019 for $230,000. The corporation acquired the sto 75 shares of Metro Corp common stock on June 17, 201 0. The corporation also sold mon stock on June 17, 2019 for $57,000. The corporation acquired thi stock on September 18, 2014 for $70,000. The corporation has a $20,000 capital loss carry 2018. These transactions were not reported to the corporation on Form 1099-B. Fixed Assets and Depreciation: Book: The corp aight-line deprecation over the useful lives of the assets as follows: store building. 50 years; equipment, ten years; and trucks, five years. The corporation takes a ha year's depreciation in the year of acquisition and the year of disposition and assumes no salvage alue. The book financial statements reflect these calculations. Tax: All assets are MACRS property as follows: store building, 39-year non-residential real property; equipment, seven-year property: and trucks, five-year property building for $1 million and placed it in services on January 2, 2015. The corporation acquired two pieces of equipment for $300,000 (Equipment 1) and $400,000 (Equipment 2) and placed them in service on January 2, 2015. The corporation acquired the service on July 18, 2016. T 10,000 and placed them in are not listed property and are no subject to the limitation on twins automobiles. The corporation did not make the expensing election under Sec. 179 or take bonus depreciation on any property acquired before 2018. Accumulated depreciation through December 31, 2018 on the properties is as follows Building Equipment 101.530 Equipment 2 206,280 Trucks 275,040 71,200 On February 2. 2019 the corporation sold Equipment 1 for $200,000. The corporation had no Sec. 1231 losses from prior years. In a separate transaction on February 7, 2019 the corporation and placed in service a piece of equipment costing $ 500,000. Assume these transactions do not y as like-kind exchange. The new equipment is seven-year property. The corporation made the shoe tosing election for the entire cost of the property. Use published IRS depreciation tables to compute the 2019 depreciation. The GAAP income statement for 2019 is as follows: Sales Returns $8,500,000 Net sales (300,000) Beginning inventory $8,200,000 Purchases $2, 125,000 ding Inventory 5,000,000 (2.978.000) Cost of goods sold $4,147,000 Gross profit Expenses : $4,053,000 Depreciation Repairs $120.090 insurance Net premium-Officers' life insurance Officers' compensation Other salaries Utilities Advertising Legal and accounting fees Charitable contributions Payroll taxes Interest Expense Bad debt expense Total expenses ($1.585,000) Gain on Sale of equipment Interest on municipal bonds Net gain on Dividend income Net income before income taxes 40,000 Federal income tax expense $2,717,000 State income tax expense ($600.000) Net income ($70,000) $2.047.000 The balance sheet is follows: Account January 1. 2019 Debit Credit December 31, 2019 Debit Credit Cash Accounts Receivable $ 4.500,000 $ $ 4,416.536 Allowance for doubtful accounts 425,000 Inventory 17.500 Investment in corporate stock 2.125.00 250,000 .978,000 Investment in municpal bonds 60,000 Cash surrender value of insurance 70,090 70,000 policy 75,000 75,000 Buildings 400,000 1000,000 1,700,000 Accumulated Depreciation - Buildings ,000,000 Accumulated Depreciation 700,000 900,000 Equipment 245,000 205,000 Trucks Accumulated Depreciation - Trucks 100,000 100,009 Accounts payable Notes payable anon-term Accrued state income taxes Accrued federal income taxes Bonds payable (long-term) Net deferred tax liability 1,500,000 Capital stock - common Retained earnings -unappropriated 1,700,000 $9.570,000 $ 9.570,000 $ 11,724.536 $ 11.724,536 Other Information: The corporation received dividends from taxable, domestic corporations, the stock of which Banner owns less th The corporation paid $200,000 in cash dividends to its shareholders during the year and charged the payment directly to retained earnings. The state income tax provided is the exact amount of such taxes incurred during the year the 2019 corporate tax return for Banner, Inc. along with any necessary supporting schedules, forms, etc. Prepare both the Schedule M-3 and M-1 but you may omit Schedule B and Form 8916-A. CamScanner