Preparation of Page One of Form 1120 Complete the header section to include company information, with no errors. Consider the following as you fill out this section of the form: Significance of the information Significance of the company's total assets Complete section one, Income, with no errors. Consider the following in your work: Net income per books location on tax return Cost of goods sold expense inclusion here Complete section two, Deductions, with no errors. Consider the following in your work: Think about the separation of compensation of officers from salaries and wages Expenses that are listed separately from "Other Deductions" Complete section three, Payments, with no errors. Consider the following in your work: Examples of tax credits available to corporations Causes of an estimated tax penalty