please required A and B if possible. thyou

Cramer Corporation, a calendar year, accrual basis corporation, reported $1.90 million of net income after tax on its financial statements prepared in accordance with GAAP. The corporation's books and records reveal the following information: . Cramer's federal Income tax expense per books was $218,000. Cramer's book income included $28,000 of dividends received from a domestic corporation in which Cramer owns a 25 percent stock interest, and $13.000 of dividends from a domestic corporation in which Cramer owns a 5 percent stock interest. Cramer recognized $28,000 of capital losses this year and no capital gains Cramer recorded $17,000 of book expense for meals not provided by a restaurant and $19,000 of book expense for entertainment . Cramer's depreciation expense for book purposes totaled $418.000 MACRS depreciation was $475,000, costs Required: a. Compute Cramer's federal taxable income and regular tax liability b. Prepare a Schedule M-1, page 6, Form 1120, reconciling Cramer's book and taxable income. Complete this question by entering your answers in the tabs below. Required A Required Compute Cramet's federal taxable income and regular tax liability. (Enter your answers in whole dollars not in millions) Amount Taxable income Tax liability Required A Required B Prepare a Schedule M-1, page 6, Form 1120, reconciling Cramer's book and taxable income. (Any Expenses (Une 5) and Deductions (Line 8) that are not included under Depreciation, Charitable Contributions, and Travel and Entertainment should be combined in the corresponding line item "other" Enter all amounts as positive. Enter your answers in whole dollars not in millions.) Show less Schedule M-1 Reconciliation of income (Loss) per Books With Income per Retur Note: The corporation may be required to file Schedule M3 See instructions + Net Income (oss per books income recorded on books this year not included on 2 Federat come tax per books this retum Excess of capitalosses over capita Tax exempt interest 4 Income subject to tax not recorded on books this year temize) 5. Expenses recorded on books this year not deducted on Deductions on this retum nct charged against book This retum (me) income this year (me) Depreciation Depreciation Charitable contributors Charte conition Chaves and entertainment come include all d Other include a ) 9 Addnes 7 and 6 Add lines through 10 income page line 28). in less the THIS FORMS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL 2021 McGraw-Hill Education Cramer Corporation, a calendar year, accrual basis corporation, reported $190 million of net income after tax on its financial statements prepared in accordance with GAAP. The corporation's books and records reveal the following information: . Cramer's federal income tax expense per books was $218,000. . Cramer's book income included $28,000 of dividends received from a domestic corporation in which Cramer owns a 25 percent stock interest, and $13,000 of dividends from a domestic corporation in which Cramer owns a 5 percent stock interest. . Cramer recognized $28,000 of capital losses this year and no capital gains. Cramer recorded $17,000 of book expense for meals not provided by a restaurant and $19,000 of book expense for entertainment costs. Cramer's depreciation expense for book purposes totaled $418,000 MACRS depreciation was $475,000. Required: a. Compute Cramer's federal taxable income and regular tax liability b. Prepare a Schedule M1, page 6. Form 1120, reconciling Cramer's book and taxable income. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a schedule M 1. page 6, Form 1120, reconciling Cramer's book and taxable income. (Any Expenses (Une) and Doductions (line 8) that are not included under Depreciation, Charitable contribution, and travel and Entertainment should be combined in the corresponding line item "other" Enter alt amounts as positive Enter your answers in whole dollars not in millions) Show less