Please complete all the sections

Accounts	Net Income per Books		Adjustments		Taxable Income
Sales Revenue	$1,500,000.00
Cost of Goods Sold	($600,000.00)
Gross Margin	$900,000.00
Dividends from 10% owned Corporation	$2,000.00
Interest from city issued bonds	$500.00
Capital Gains from sale of real estate	$10,000.00
Salary (payment to a single officer)	($500,000.00)
Parking fines	($200.00)
Organizational Expense (Total $60,000) Amortize over 10 years company started this year (1/1/2019)	($6,000.00)
Bad Debt Expense (for AR allowance adjustment; 50% of accrual amount actually written off)	($15,000.00)
Owner Expensed his personal trip to Las Vegas	($3,500.00)
Guarateed Payments	($7,000.00)
Goodwill Impairment	$0.00
Capital Loss from sale of equipment	($4,000.00)
Warrant Expense (Actual payments = $2,000)	($1,500.00)
Depreciation Expense ($10,000 piece of equipment acquired on 6/1/2019. MACRS 5 year property)	($1,000.00)
Charitable Contributions	($35,000.00)
Meals and Entertainment	($5,000.00)
Net Income	$334,300.00		$0.00		$0.00

Accounts		Ordinary Items		Separately Stated Items
Sales Revenue
Cost of Goods Sold
Gross Margin
Dividends from 10% owned Corporation
Interest from city issued bonds
Capital Gains from sale of real estate
Salary (payment to a single officer)
Parking fines
Organizational Expense (Total $60,000) Amortize over 10 years company started this year (1/1/2019)
Bad Debt Expense (for AR allowance adjustment; 50% of accrual amount actually written off)
Owner Expensed his personal trip to Las Vegas
Guarateed Payments
Goodwill Impairment
Capital Loss from sale of equipment
Warrant Expense (Actual payments = $2,000)
Depreciation Expense ($10,000 piece of equipment acquired on 6/1/2019. MACRS 5 year property)
Charitable Contributions
Meals and Entertainment
Net Income		$0.00		$0.00