Please help in completing the Schedule M-1. Thanks!

MUTT CUTTS CORPORATION BALANCE SHEET (GAAP BASIS) For the Year Ending December 31, 2019 12/31/2018 12/31/2019 ASSETS Current Assets: Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Investment in Stock Prepaid Federal Income Tax 424,233 1,143,899 (70,000) 1,818,000 1,200,000 165,432 843,222 987,432 (70,000) 2,143,274 1,200,000 125,621 Equipment, Building, and Land: Machinery Furnitures & Fixtures Computer Equipment Commercial Building Accumulated Depreciation Land 770,000 187.000 75,000 3,000,000 (780,000) 120,000 1,420,000 187,000 75,000 3,000,000 (1,100,000) 120,000 Other Assets: Intangible Assets Accumulated Amortization 330,000 (82,500) 330,000 (82,500) Total Assets: 8,301,064 9,179,049 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts Payable Notes Payable (less than one year) 1,430,874 812,343 1,371,602 743,433 Notes Payable (one year or more) 2,402,504 1,885,671 1,500,000 1,500,000 Common Stock (3,500,000 shs authorized, 1,500,000 oustanding, $1 par) Additional Paid-In Capital Retained Earnings 900,000 1,255,343 1,050,000 2,628,343 Total Liabilities and Shareholders' Equity 8,301,064 9,179,049 MUTT CUTTS CORPORATION INCOME STATEMENT (GAAP BASIS) For the Year Ending December 31, 2019 Total Revenue: Gross Sales Returns and Allowances Cost of Goods Sold 11,343,884 (400,884) (1,800,000) Gross Profit 9,143,000 Operating Expenses: Compensation of Officers Wages & Salaries (not included above) Equipment Rental Expense Interest Expense Political Contributions Advertising Charitable Contributions Depreciation Expense Taxes & Licenses Repairs and Maintenance Employee Benefit Programs Officers' Life Insurance Business Meals (800,000) (1,453,000) (713,000) (124,000) (80,000) (844,000) (10,000) (320,000) (980,000) (422,000) (714,000) (25,000) (150,000) Other Income & Loss: Interest Income Dividend Income 80,000 200,000 Net Income (Loss) before Income Tax 2,788,000 Federal Income Tax Expense (615,000) Net Income for GAAP purposes 2,173,000 III UIO ULIY.. Schedule M-1 Reconciliation of Income (Loss) per Books With Income per Return Note: The corporation may be required to file Schedule M-3. See instructions. 1 Net income (loss) per books . . . . . . Income recorded on books this year 2 Federal income tax per books . . . . . not included on this return (itemize): Excess of capital losses over capital gains . Tax-exempt interest $ Income subject to tax not recorded on books this year (itemize): Deductions on this return not charged 5 Expenses recorded on books this year not against book income this year (itemize): deducted on this return (itemize): a Depreciation . . $ a Depreciation . . . . $ b Charitable contributions $ b Charitable contributions. $ c Travel and entertainment. $ 9 Add lines 7 and 8. 6 Add lines 1 through 5. . . 10 Income (page 1, line 28) - line 6 less line 9 A .. ! O 01. MUTT CUTTS CORPORATION BALANCE SHEET (GAAP BASIS) For the Year Ending December 31, 2019 12/31/2018 12/31/2019 ASSETS Current Assets: Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Investment in Stock Prepaid Federal Income Tax 424,233 1,143,899 (70,000) 1,818,000 1,200,000 165,432 843,222 987,432 (70,000) 2,143,274 1,200,000 125,621 Equipment, Building, and Land: Machinery Furnitures & Fixtures Computer Equipment Commercial Building Accumulated Depreciation Land 770,000 187.000 75,000 3,000,000 (780,000) 120,000 1,420,000 187,000 75,000 3,000,000 (1,100,000) 120,000 Other Assets: Intangible Assets Accumulated Amortization 330,000 (82,500) 330,000 (82,500) Total Assets: 8,301,064 9,179,049 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts Payable Notes Payable (less than one year) 1,430,874 812,343 1,371,602 743,433 Notes Payable (one year or more) 2,402,504 1,885,671 1,500,000 1,500,000 Common Stock (3,500,000 shs authorized, 1,500,000 oustanding, $1 par) Additional Paid-In Capital Retained Earnings 900,000 1,255,343 1,050,000 2,628,343 Total Liabilities and Shareholders' Equity 8,301,064 9,179,049 MUTT CUTTS CORPORATION INCOME STATEMENT (GAAP BASIS) For the Year Ending December 31, 2019 Total Revenue: Gross Sales Returns and Allowances Cost of Goods Sold 11,343,884 (400,884) (1,800,000) Gross Profit 9,143,000 Operating Expenses: Compensation of Officers Wages & Salaries (not included above) Equipment Rental Expense Interest Expense Political Contributions Advertising Charitable Contributions Depreciation Expense Taxes & Licenses Repairs and Maintenance Employee Benefit Programs Officers' Life Insurance Business Meals (800,000) (1,453,000) (713,000) (124,000) (80,000) (844,000) (10,000) (320,000) (980,000) (422,000) (714,000) (25,000) (150,000) Other Income & Loss: Interest Income Dividend Income 80,000 200,000 Net Income (Loss) before Income Tax 2,788,000 Federal Income Tax Expense (615,000) Net Income for GAAP purposes 2,173,000 III UIO ULIY.. Schedule M-1 Reconciliation of Income (Loss) per Books With Income per Return Note: The corporation may be required to file Schedule M-3. See instructions. 1 Net income (loss) per books . . . . . . Income recorded on books this year 2 Federal income tax per books . . . . . not included on this return (itemize): Excess of capital losses over capital gains . Tax-exempt interest $ Income subject to tax not recorded on books this year (itemize): Deductions on this return not charged 5 Expenses recorded on books this year not against book income this year (itemize): deducted on this return (itemize): a Depreciation . . $ a Depreciation . . . . $ b Charitable contributions $ b Charitable contributions. $ c Travel and entertainment. $ 9 Add lines 7 and 8. 6 Add lines 1 through 5. . . 10 Income (page 1, line 28) - line 6 less line 9 A .. ! O 01