please help me to fill the 1120 form according to the information providing.
Note: This problem is for the 2018 tax year. 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; and its e-mail address is Kingfisher@kf.com. 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 Sales returns and allowances $2,408,000 (80,000) $2,328,000 (920,000) Net sales Cost of goods sold $1,408,000 12,000 Gross profit Dividends received from stock investments in less-than-20%- owned U.S. corporations Interest income: State bonds Certificates of deposit Total income Expenses Salaries-officers: Nancy Trout Delores Lake Salaries-clerical and sales $14,000 10,000 24,000 $1,444,000 $160,000 160,000 $320,000 290,000 85,000 56,000 $12,000 8,000 Taxes (state, local, and payroll) Repairs and maintenance Interest expense: Business loans Loan to purchase state bonds Advertising Rental expense Depreciation* Charitable contributions Employee benefit programs Premiums on term life insurance policies on lives of Janet Morton and Kim Wong; Pet Kingdom is the designated beneficiary Total expenses Net income before taxes Federal income tax Net income per books 20,000 6,000 68,000 40,000 15,000 24,000 16,000 (940,000) $504,000 (106,680) $397,320 * You are not provided enough detailed information to complete a Form 4562 (depreciation). If you solve this problem using Intuit ProConnect, enter the amount of deprecation on line 20 of Form 1120. Assets December 31, 2018 Cash Trade notes and accounts receivable Inventories State bonds Federal income tax refund Certificates of deposit Stock investments Buildings and other depreciable assets Accumulated depreciation Balance Sheet January 1, 2018 $380,000 308,400 900,000 160,000 -0- 140,000 300,000 240,000 (88,000) $337,300 480,280 1,012,000 160,000 1,320 140,000 300,000 240,000 (128,800) Land Other assets Total assets 20,000 3,600 $2,363,200 20,000 2,000 $2,564,100 Liabilities and Equity January 1, 2018 Accounts payable Other current liabilities Mortgages Capital stock Retained earnings Total liabilities and equity Required: $300,000 80,300 210,000 500,000 1,272,900 $2,363,200 December 31, 2018 $233,880 40,000 200,000 500,000 1,590,220 $2,564,100 During 2018, Kingfisher made estimated tax payments of $27,000 each quarter to the IRS. Prepare a 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. Complete Form 1120, pages 4, 5 and 6 for Kingfisher Corporation. 11-1111113 Page 4 Form 1120 (2018) Kingfisher Corporation Schedule K Other Information (see instructions) 1 Check accounting method: a - Cash b Accrual c - Other (specify) --- Yes No 2 See the instructions and enter the: a Business activity code no. 451110 b Business activity Retail ..................---.--------------------------.................. c Product or service Fishing Tackle 3 Is the corporation a subsidiary in an affiliated group or a parent-subsidiary controlled group?..... If "Yes," enter name and EIN of the parent corporation - ---- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4 At the end of the tax year: a Did any foreign or domestic corporation, partnership (including any entity treated as a partnership), trust, or tax-exempt organization own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of the corporation's stock entitled to vote? If "Yes," complete Part I of Schedule G (Form 1120) (attach Schedule G) .... b Did any individual or estate own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of the corporation's stock entitled to vote? If "Yes," complete Part II of Schedule G (Form 1120) (attach Schedule G) ........ 5 At the end of the tax year, did the corporation: a Own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of stock entitled to vote of any foreign or domestic corporation not included on Form 851, Affiliations Schedule? For rules of constructive ownership, see instructions. If "Yes," complete (i) through (iv) below. (ii) Employer Identification (iii) Country of (iv) Percentage Owned in (i) Name of Corporation Number (if any) Incorporation Voting Stock b Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust? For rules of constructive ownership, see instructions. If "Yes," complete (i) through (iv) below. (iv) Maximum Percentage (ii) Employer Identification (iii) Country of (i) Name of Entity Owned in Profit, Loss, or Number (if any) Organization Capital 6 During this tax year, did the corporation pay dividends (other than stock dividends and distributions in exchange for stock) in excess of the corporation's current and accumulated earnings and profits? See sections 301 and 316 If "Yes," file Form 5452, Corporate Report of Nondividend Distributions. See the instructions for Form 5452. If this is a consolidated return, answer here for the parent corporation and on Form 851 for each subsidiary. At any time during the tax year, did one foreign person own, directly or indirectly, at least 25% of the total voting power of all classes of the corporation's stock entitled to vote or at least 25% of the total value of all classes of the corporation's 7 stock?.. For rules of attribution, see section 318. If "Yes," enter: (a) Percentage owned __ and (b) Owner's country -- ---------- 8 (c) The corporation may have to file Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business. Enter the number of Forms 5472 attached ----- Check this box if the corporation issued publicly offered debt instruments with original issue discount......... If checked, the corporation may have to file Form 8281, Information Return for Publicly Offered Original Issue Discount Instruments. 9 Enter the amount of tax-exempt interest received or accrued during the tax year $ 10 Enter the number of shareholders at the end of the tax year (if 100 or fewer) 11 If the corporation has an NOL for the tax year and is electing to forego the carryback period, check here (see instructions) If the corporation is filing a consolidated return, the statement required by Regulations section 1.1502-21(b)(3) must be attached or the election will not be valid. 12 Enter the available NOL carryover from prior tax years (do not reduce it by any deduction reported on page 1, line 29a.) ................................................ $ None Form 1120 (2018) Page 5 Form 1120 (2018) Kingfisher Corporation 11-1111113 Schedule K Other Information continued from page 4) 13 Are the corporation's total receipts (page 1, line 1a, plus lines 4 through 10) for the tax year and its total assets at the end of the tax year less than $250,000? ....... Yes No If "Yes," the corporation is not required to complete Schedules L, M-1, and M-2. Instead, enter the total amount of cash distributions and the book value of property distributions (other than cash) made during the tax year $_--- 14 Is the corporation required to file Schedule UTP (Form 1120), Uncertain Tax Position Statement? See instructions If "Yes," complete and attach Schedule UTP. 15a Did the corporation make any payments in 2018 that would require it to file Form(s) 1099? ........ b If "Yes," did or will the corporation file required Forms 1099? ..... 16 During this tax year, did the corporation have an 80% or more change in ownership, including a change due to redemption of its own stock? ...... 17 During or subsequent to this tax year, but before the filing of this return, did the corporation dispose of more than 65% (by value) of its assets in a taxable, non-taxable, or tax deferred transaction? ...... 18 Did the corporation receive assets in a section 351 transfer in which any of the transferred assets had a fair market basis or fair market value of more than $1 million?.... 19 During the corporation's tax year, did the corporation make any payments that would require it to file Forms 1042 and 1042-S under chapter 3 (sections 1441 through 1464) or chapter 4 (sections 1471 through 1474) of the Code? ...... 20 Is the corporation operating on a cooperative basis?. 21 During the tax year, did the corporation pay or accrue any interest or royalty for which the deduction is not allowed under section 267A? See instructions If "Yes," enter the total amount of the disallowed deductions $_- - - - - - - - - - - - - - - - - - - - - - - - - - - - - 22 Does the corporation have gross receipts of at least $500 million in any of the 3 preceding tax years? (See sections 59A(e) (2) and (3)).... (2) drid (3 ). . .. . ... . .. . .. . .. ... . .. . .. . ... . .. .. . .. . ... . .. .. . .. .. .. . .. . ... . .. . .. . ... . If "Yes," complete and attach Form 8991. 23 Did the corporation have an election under section 163(j) for any real property trade or business or any farming business in effect during the tax year? See instructions .... 24 Does the corporation satisfy one of the following conditions and the corporation does not own a pass-through entity with current year, or prior year carryover, excess business interest expense? See instructions ......... a The corporation's aggregate average annual gross receipts (determined under section 448(c)) for the 3 tax years preceding the current tax year do not exceed $25 million, and the corporation is not a tax shelter, or b The corporation only has business interest expense from (1) an electing real property trade or business, (2) an electing farming business, or (3) certain utility businesses under section 163()(7). If "No," complete and attach Form 8990. 25 Is the corporation attaching Form 8996 to certify as a Qualified Opportunity Fund? ........... If "Yes," enter amount from Form 8996, line 13........ $ Form 1120 (2018) Form 1120 (2018) Kingfisher Corporation Schedule L Balance Sheets per Books Assets Beginning of tax year (a) (b) 11-1111113 Page 6 End of tax year (c) (d) 1 Cash ........ 2a Trade notes and accounts receivable ...... b Less allowance for bad debts ............ 3 Inventories.. 4 U.S. government obligations ......... 5 Tax-exempt securities (see instructions) .... 6 Other current assets (attach statement).... 7 8 Loans to shareholders ............. Mortgage and real estate loans ...... 9 Other investments (attach statement) ..... 10a Buildings and other depreciable assets .. b Less accumulated depreciation 11a Depletable assets. b Less accumulated depletion ..... 12 Land (net of any amortization) ........ 13a Intangible assets (amortizable only). b Less accumulated amortization ..... 14 Other assets (attach statement)..... 15 Total assets .................. Liabilities and Shareholders' Equity 16 Accounts payable ... 17 Mortgages, notes, bonds payable in less than 1 year 18 Other current liabilities (attach statement).. 19 Loans from shareholders ..... 20 Mortgages, notes, bonds payable in 1 year or more 21 Other liabilities (attach statement). 22 Capital stock: a Preferred stock ....... b Common stock ........ 23 Additional paid-in capital ........ 24 Retained earnings-Appropriated (attach statement) 25 Retained earnings-Unappropriated ....... 26 27 28 Adjustments to shareholders' equity (attach statement) Less cost of treasury stock .. Total liabilities and shareholders' equity .... 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 ........ 7 Income recorded on books this year not included on this return (itemize): Tax-exempt interest .. $ 2 Federal income tax per books ....... 3 4 --------- Excess of capital losses over capital gains Income subject to tax not recorded on books this year (itemize): __. 5 Expenses recorded on books this year not deducted on this return (itemize): a Depreciation ............$-- b Charitable contributions ..$__ c Travel and entertainment. $ ----------- - 8 Deductions on this return not charged against book income this year (itemize): a Depreciation b Charitable contributions $ _. 9 Add lines 7 and 8 .... 6 Add lines 1 through 5...... 10 Income (page 1, line 28)-line 6 less line 9 Schedule M- 2 Analysis of Unappropriated Retained Earnings per Books (Line 25, Schedule L) 1 Balance at beginning of year ...... 5 Distributions: a Cash ....... 2 Net income (loss) per books ...... b Stock .... 3 Other increases (itemize): c Property ...... Other decreases (itemize):_---- 6 1 Add lines 5 and 6 ......... 4 Add lines 1, 2, and 3 ........ 8 Balance at end of year (line 4 less line 7) Form 1120 (2018) Note: This problem is for the 2018 tax year. 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; and its e-mail address is Kingfisher@kf.com. 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 Sales returns and allowances $2,408,000 (80,000) $2,328,000 (920,000) Net sales Cost of goods sold $1,408,000 12,000 Gross profit Dividends received from stock investments in less-than-20%- owned U.S. corporations Interest income: State bonds Certificates of deposit Total income Expenses Salaries-officers: Nancy Trout Delores Lake Salaries-clerical and sales $14,000 10,000 24,000 $1,444,000 $160,000 160,000 $320,000 290,000 85,000 56,000 $12,000 8,000 Taxes (state, local, and payroll) Repairs and maintenance Interest expense: Business loans Loan to purchase state bonds Advertising Rental expense Depreciation* Charitable contributions Employee benefit programs Premiums on term life insurance policies on lives of Janet Morton and Kim Wong; Pet Kingdom is the designated beneficiary Total expenses Net income before taxes Federal income tax Net income per books 20,000 6,000 68,000 40,000 15,000 24,000 16,000 (940,000) $504,000 (106,680) $397,320 * You are not provided enough detailed information to complete a Form 4562 (depreciation). If you solve this problem using Intuit ProConnect, enter the amount of deprecation on line 20 of Form 1120. Assets December 31, 2018 Cash Trade notes and accounts receivable Inventories State bonds Federal income tax refund Certificates of deposit Stock investments Buildings and other depreciable assets Accumulated depreciation Balance Sheet January 1, 2018 $380,000 308,400 900,000 160,000 -0- 140,000 300,000 240,000 (88,000) $337,300 480,280 1,012,000 160,000 1,320 140,000 300,000 240,000 (128,800) Land Other assets Total assets 20,000 3,600 $2,363,200 20,000 2,000 $2,564,100 Liabilities and Equity January 1, 2018 Accounts payable Other current liabilities Mortgages Capital stock Retained earnings Total liabilities and equity Required: $300,000 80,300 210,000 500,000 1,272,900 $2,363,200 December 31, 2018 $233,880 40,000 200,000 500,000 1,590,220 $2,564,100 During 2018, Kingfisher made estimated tax payments of $27,000 each quarter to the IRS. Prepare a 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. Complete Form 1120, pages 4, 5 and 6 for Kingfisher Corporation. 11-1111113 Page 4 Form 1120 (2018) Kingfisher Corporation Schedule K Other Information (see instructions) 1 Check accounting method: a - Cash b Accrual c - Other (specify) --- Yes No 2 See the instructions and enter the: a Business activity code no. 451110 b Business activity Retail ..................---.--------------------------.................. c Product or service Fishing Tackle 3 Is the corporation a subsidiary in an affiliated group or a parent-subsidiary controlled group?..... If "Yes," enter name and EIN of the parent corporation - ---- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4 At the end of the tax year: a Did any foreign or domestic corporation, partnership (including any entity treated as a partnership), trust, or tax-exempt organization own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of the corporation's stock entitled to vote? If "Yes," complete Part I of Schedule G (Form 1120) (attach Schedule G) .... b Did any individual or estate own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of the corporation's stock entitled to vote? If "Yes," complete Part II of Schedule G (Form 1120) (attach Schedule G) ........ 5 At the end of the tax year, did the corporation: a Own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of stock entitled to vote of any foreign or domestic corporation not included on Form 851, Affiliations Schedule? For rules of constructive ownership, see instructions. If "Yes," complete (i) through (iv) below. (ii) Employer Identification (iii) Country of (iv) Percentage Owned in (i) Name of Corporation Number (if any) Incorporation Voting Stock b Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust? For rules of constructive ownership, see instructions. If "Yes," complete (i) through (iv) below. (iv) Maximum Percentage (ii) Employer Identification (iii) Country of (i) Name of Entity Owned in Profit, Loss, or Number (if any) Organization Capital 6 During this tax year, did the corporation pay dividends (other than stock dividends and distributions in exchange for stock) in excess of the corporation's current and accumulated earnings and profits? See sections 301 and 316 If "Yes," file Form 5452, Corporate Report of Nondividend Distributions. See the instructions for Form 5452. If this is a consolidated return, answer here for the parent corporation and on Form 851 for each subsidiary. At any time during the tax year, did one foreign person own, directly or indirectly, at least 25% of the total voting power of all classes of the corporation's stock entitled to vote or at least 25% of the total value of all classes of the corporation's 7 stock?.. For rules of attribution, see section 318. If "Yes," enter: (a) Percentage owned __ and (b) Owner's country -- ---------- 8 (c) The corporation may have to file Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business. Enter the number of Forms 5472 attached ----- Check this box if the corporation issued publicly offered debt instruments with original issue discount......... If checked, the corporation may have to file Form 8281, Information Return for Publicly Offered Original Issue Discount Instruments. 9 Enter the amount of tax-exempt interest received or accrued during the tax year $ 10 Enter the number of shareholders at the end of the tax year (if 100 or fewer) 11 If the corporation has an NOL for the tax year and is electing to forego the carryback period, check here (see instructions) If the corporation is filing a consolidated return, the statement required by Regulations section 1.1502-21(b)(3) must be attached or the election will not be valid. 12 Enter the available NOL carryover from prior tax years (do not reduce it by any deduction reported on page 1, line 29a.) ................................................ $ None Form 1120 (2018) Page 5 Form 1120 (2018) Kingfisher Corporation 11-1111113 Schedule K Other Information continued from page 4) 13 Are the corporation's total receipts (page 1, line 1a, plus lines 4 through 10) for the tax year and its total assets at the end of the tax year less than $250,000? ....... Yes No If "Yes," the corporation is not required to complete Schedules L, M-1, and M-2. Instead, enter the total amount of cash distributions and the book value of property distributions (other than cash) made during the tax year $_--- 14 Is the corporation required to file Schedule UTP (Form 1120), Uncertain Tax Position Statement? See instructions If "Yes," complete and attach Schedule UTP. 15a Did the corporation make any payments in 2018 that would require it to file Form(s) 1099? ........ b If "Yes," did or will the corporation file required Forms 1099? ..... 16 During this tax year, did the corporation have an 80% or more change in ownership, including a change due to redemption of its own stock? ...... 17 During or subsequent to this tax year, but before the filing of this return, did the corporation dispose of more than 65% (by value) of its assets in a taxable, non-taxable, or tax deferred transaction? ...... 18 Did the corporation receive assets in a section 351 transfer in which any of the transferred assets had a fair market basis or fair market value of more than $1 million?.... 19 During the corporation's tax year, did the corporation make any payments that would require it to file Forms 1042 and 1042-S under chapter 3 (sections 1441 through 1464) or chapter 4 (sections 1471 through 1474) of the Code? ...... 20 Is the corporation operating on a cooperative basis?. 21 During the tax year, did the corporation pay or accrue any interest or royalty for which the deduction is not allowed under section 267A? See instructions If "Yes," enter the total amount of the disallowed deductions $_- - - - - - - - - - - - - - - - - - - - - - - - - - - - - 22 Does the corporation have gross receipts of at least $500 million in any of the 3 preceding tax years? (See sections 59A(e) (2) and (3)).... (2) drid (3 ). . .. . ... . .. . .. . .. ... . .. . .. . ... . .. .. . .. . ... . .. .. . .. .. .. . .. . ... . .. . .. . ... . If "Yes," complete and attach Form 8991. 23 Did the corporation have an election under section 163(j) for any real property trade or business or any farming business in effect during the tax year? See instructions .... 24 Does the corporation satisfy one of the following conditions and the corporation does not own a pass-through entity with current year, or prior year carryover, excess business interest expense? See instructions ......... a The corporation's aggregate average annual gross receipts (determined under section 448(c)) for the 3 tax years preceding the current tax year do not exceed $25 million, and the corporation is not a tax shelter, or b The corporation only has business interest expense from (1) an electing real property trade or business, (2) an electing farming business, or (3) certain utility businesses under section 163()(7). If "No," complete and attach Form 8990. 25 Is the corporation attaching Form 8996 to certify as a Qualified Opportunity Fund? ........... If "Yes," enter amount from Form 8996, line 13........ $ Form 1120 (2018) Form 1120 (2018) Kingfisher Corporation Schedule L Balance Sheets per Books Assets Beginning of tax year (a) (b) 11-1111113 Page 6 End of tax year (c) (d) 1 Cash ........ 2a Trade notes and accounts receivable ...... b Less allowance for bad debts ............ 3 Inventories.. 4 U.S. government obligations ......... 5 Tax-exempt securities (see instructions) .... 6 Other current assets (attach statement).... 7 8 Loans to shareholders ............. Mortgage and real estate loans ...... 9 Other investments (attach statement) ..... 10a Buildings and other depreciable assets .. b Less accumulated depreciation 11a Depletable assets. b Less accumulated depletion ..... 12 Land (net of any amortization) ........ 13a Intangible assets (amortizable only). b Less accumulated amortization ..... 14 Other assets (attach statement)..... 15 Total assets .................. Liabilities and Shareholders' Equity 16 Accounts payable ... 17 Mortgages, notes, bonds payable in less than 1 year 18 Other current liabilities (attach statement).. 19 Loans from shareholders ..... 20 Mortgages, notes, bonds payable in 1 year or more 21 Other liabilities (attach statement). 22 Capital stock: a Preferred stock ....... b Common stock ........ 23 Additional paid-in capital ........ 24 Retained earnings-Appropriated (attach statement) 25 Retained earnings-Unappropriated ....... 26 27 28 Adjustments to shareholders' equity (attach statement) Less cost of treasury stock .. Total liabilities and shareholders' equity .... 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 ........ 7 Income recorded on books this year not included on this return (itemize): Tax-exempt interest .. $ 2 Federal income tax per books ....... 3 4 --------- Excess of capital losses over capital gains Income subject to tax not recorded on books this year (itemize): __. 5 Expenses recorded on books this year not deducted on this return (itemize): a Depreciation ............$-- b Charitable contributions ..$__ c Travel and entertainment. $ ----------- - 8 Deductions on this return not charged against book income this year (itemize): a Depreciation b Charitable contributions $ _. 9 Add lines 7 and 8 .... 6 Add lines 1 through 5...... 10 Income (page 1, line 28)-line 6 less line 9 Schedule M- 2 Analysis of Unappropriated Retained Earnings per Books (Line 25, Schedule L) 1 Balance at beginning of year ...... 5 Distributions: a Cash ....... 2 Net income (loss) per books ...... b Stock .... 3 Other increases (itemize): c Property ...... Other decreases (itemize):_---- 6 1 Add lines 5 and 6 ......... 4 Add lines 1, 2, and 3 ........ 8 Balance at end of year (line 4 less line 7) Form 1120 (2018)
