On November 1, 2008, Janet Morton and Kim Wong formed Pet Kingdom, Inc., to sell pets and pet supplies. Pertinent information regarding Pet Kingdom is summarized as follows:

• Pet Kingdom's business address is 1010 Northwest Parkway, Dallas, TX 75225; its telephone number is (214) 555-2211; and its e-mail address is petkingdom@pki.com.
• The employer identification number is 11-1111112, and the principal business activity code is 453910.
• Janet and Kim each own 50% of the common stock; Janet is president and Kim is vice president of the company. No other class of stock is authorized.
• Both Janet and Kim are full-time employees of Pet Kingdom. Janet's Social Security number is 123-45-6788, and Kim's Social Security number is 123-45-6787.
• Pet Kingdom is an accrual method, calendar year taxpayer. Inventories are determined using FIFO and the lower of cost or market method. Pet Kingdom uses the straight-line method of depreciation for book purposes and accelerated depreciation (MACRS) for tax purposes.
• During 2019, the corporation distributed cash dividends of $250,000.

Pet Kingdom's financial statements for 2019 are shown below.

Income Statement
Income
Gross sales					$5,750,000
Sales returns and allowances					(200,000)
Net sales					$5,550,000
Cost of goods sold					(2,300,000)
Gross profit					$3,250,000
Dividends received from stock
investments in less-than-20%- owned U.S. corporations					43,750
Interest income:
State bonds			$15,000
Certificates of deposit			20,000		35,000
Total income					$3,328,750
Expenses
Salariesofficers:
Janet Morton	$262,500
Kim Wong	262,500		$525,000
Salariesclerical and sales			725,000
Taxes (state, local, and payroll)			238,000
Repairs and maintenance			140,000
Interest expense:
Loan to purchase state bonds	$9,000
Other business loans	207,000		216,000
Advertising			58,000
Rental expense			109,000
Depreciation*			106,000
Charitable contributions			38,000
Employee benefit programs			60,000
Premiums on term life insurance
policies on lives of Janet Morton and Kim Wong; Pet Kingdom is the designated beneficiary			40,000
Total expenses					(2,255,000)
Net income before taxes					$1,073,750
Federal income tax					(221,734)
Net income per books					$852,016
* Depreciation for tax purposes is $136,000. You are not provided enough detailed data to complete a Form 4562 (depreciation). If you solve this problem using Intuit ProConnect, enter the amount of depreciation on line 20 of Form 1120.

Balance Sheet
Assets	January 1, 2019				December 31, 2019
Cash		$1,200,000				$1,039,461
Trade notes and accounts receivable		2,062,500				2,147,000
Inventories		2,750,000				3,030,000
Stock investment		1,125,000				1,125,000
State bonds		375,000				375,000
Certificates of deposit		400,000				400,000
Prepaid Federal tax		0				2,266
Buildings and other depreciable assets		5,455,000				5,455,000
Accumulated depreciation		(606,000)				(712,000)
Land		812,500				812,500
Other assets		140,000				128,500
Total assets		$13,714,000				$13,802,727
Liabilities and Equity	January 1, 2019				December 31, 2019
Accounts payable		$2,284,000				$1,840,711
Other current liabilities		175,000				155,000
Mortgages		4,625,000				4,575,000
Capital stock		2,500,000				2,500,000
Retained earnings		4,130,000				4,732,016
Total liabilities and equity		$13,714,000				$13,802,727

Required:

During 2019, Pet Kingdom made estimated tax payments of $56,000 each quarter to the IRS. Prepare a Form 1120 for Pet Kingdom for tax year 2019.

I need help with schedule M3 Please?

November 1, 2008, Janet Morton and Kim Wong formed Pet Kingdom, Inc., to sell pets and supplies. Pertinent information regarding tomis summed as follows: Pet kinders sincs addici 10 North Parkway, Dallas, TX 75225, its telephone number is (14) 585-2211:adits middress is pokingdom.pi.com. . The employer deration usher is l_1111112, and the principal business activity code is 453910 at and Kim chew of the commesteck: lanet is president and Kim is vice president of the Company. No others in the Bohinand Kim are full-time employees of Pet Kingdom Juners Social Security runker is 123 45471, and Kids Social Security camber is 123-45-4787 . Ret Kingdom is an oral method calendar year taxpayer lemons as determined in FIFO and thekwer of color market Makinesi ed of depreciation file beck pepes and were deposition (MACRS) for tax purposes . During 2018, the corporation denied cash dividends of so Pet Kingdom's financial statements for 2019 are shown below. Income 55,750,000 Sales neturn and alwance Cost of goods Divideda received from stock ned US corporations 50 100,000) 51.250.000 SIS.000 Certificate of de Total Sales-office Mans Salories clerical and sales Tas, kocal, and payroll Repairs and me Daher business Advertising 207.000 216.000 10.000 10. pepreciation Employee bene programs Premium.com life insurance per escoles de Marsed Kingdom is the designated Beeficiary 51,073.750 e income before Moderato Nel income per books Depreciation for tax purposes is 5136,000. You we provided cough detailed data to complete a Form 4563 decline you live this probleming Intel Comter the amount of depreciation on line 20 of Form 1120 Relance Sheet 51.300.000 December 31, 2009 $1999,461 30.000 1,125,000 0.000 Confits of depos Propeld Federal tas Building and other depreciables 2. 5.485.000 812.500 812.500 Total $18.714100 513810,727 January 1, 2019 December 31, 2019 Accounts payable Other current 40.000 Rennings 40.000 4.712016 |Total lathiria aat) $13.74.000 SI3.2.727 Required: During 2019, Put Kingdommade estimated tax payments of $56,000 each quarter to the Prepare a Form 1120 for Pe Kingdom for tax year 2019 need help with schedule M3 Please