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Net income per books ( After - tax ) $ 3 8 6 , 2 5 0 Taxable income $ 1 2 0 , 0

Net income per books (After-tax) $386,250
Taxable income $120,000
Federal Income tax per books $25,200
Cash dividend distrubution $150,000
Unappropriated retained earnings, as of January 1,2021 $796,010
Based on the above information, use Schedule M2 of Form 1120 to
determine Exit Corporation's unappropriated retained earnings balance by
preparing Schedule M-2

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