On February 12, 2005, Nancy Trout and Delores Lake formed Kingfisher Corporation to sell fishing tackle. Pertinent information regarding Kingfisher is summarized as follows:

• Kingfisher's business address is 1717 Main Street, Ely, MN 55731; its telephone number is (218) 555-2211;
• The employer identification number is 11-1111113, and the principal business activity code is 451110.
• Nancy owns 50% of the common stock and is president of the company, and Delores owns 50% of the common stock and is vice president of the company. No other class of stock is authorized.
• Both Nancy and Delores are full-time employees of Kingfisher. Nancy's Social Security number is 123-45-6788, and Delores's Social Security number is 123-45-6787.
• Kingfisher is an accrual method, calendar year taxpayer. Inventories are determined using FIFO and the lower of cost or market method. Kingfisher uses the straight-line method of deprecation for book purposes and accelerated depreciation (MACRS) for tax purposes.
• During 2018, the corporation distributed cash dividends of $80,000.

Kingfisher's financial statements for 2018 are shown below and on the next page.

Income Statement Income

Gross sales $2,408,000

Sales returns and allowances (80,000)

Net sales$2,328,000

Cost of goods sold(920,000)

Gross profit$1,408,000

Dividends received from stock investments in less-than-20%-owned U.S. corporations12,000

Interest income: State bonds$14,000

Certificates of deposit10,000

24,000

Total Income$1,444,000

Expenses

Salariesofficers:Nancy Trout$160,000

Delores Lake 160,000 $320,000

Salariesclerical and sales 290,000

Taxes (state, local, and payroll) 85,000

Repairs and maintenance 56,000

Interest expense: Business loans $12,000

Loan to purchase state bonds 8,00020,000

Advertising6,000

Rental expense 68,000

Depreciation*40,000

Charitable contributions 15,000

Employee benefit programs 24,000

Premiums on term life insurance policies on lives of Janet Morton and Kim Wong;

Pet Kingdom is the designated beneficiary16,000

Total expenses (940,000)

Net income before taxes $504,000

Federal income tax (106,680)

Net income per books $397,320 * You are not provided enough detailed information to fill in Form 4562 (depreciation). If you solve this problem using Intuit ProConnect, enter the amount of deprecation on line 20 of Form 1120.

Balance Sheet AssetsJanuary 1, 2018 December 31, 2018

Cash $380,000

$337,300 Trade notes and accounts receivable

308,400

480,280 Inventories

900,000

1,012,000 State bonds

160,000

160,000 Federal income tax refund-0-1,

320 Certificates of deposit 140,000

140,000 Stock investments

300,000

300,000 Buildings and other depreciable assets

240,000

240,000 Accumulated depreciation (88,000)(128,800) Land 20,000 20,000 Other assets 3,6002,000 Total assets $2,363,200 $2,564,100

Liabilities and EquityJanuary 1, 2018 December 31, 2018

Accounts payable $300,000

$233,880 Other current liabilities

80,300

40,000 Mortgages 210,000

200,000 Capital stock 500,000 500,000

Retained earnings1,272,900

1,590,220

Total liabilities and equity $2,363,200

$2,564,100

Required: During 2018, Kingfisher made estimated tax payments of $27,000 each quarter to the IRS. do Form 1120 for Kingfisher for tax year 2018.

• If an amount box does not require an entry or the answer is zero, enter "0".
• Enter all amounts as positive numbers, unless otherwise instructed.
• If required, round amounts to the nearest dollar.
• Make realistic assumptions about any missing data.

Please assist with a example form 1120, 1125-A, 1125-E, Federal statements, and schedule G from 1120