Prepare a 2022 Form 1120, Schedule L, Schedule M-1, and Schedule M-2 using the information below.

There are never pennies on a tax return

Client Information:

Randolph Manufacturing Company, EIN (46-7299870) was organized on February 1, 2004. Randolph manufactures electronic components. Its business activity code is 3670. The offices of the company are located at 350 Mission Street, San Jose, CA 95107-4311. Randolph's financial statements are reproduced on the pages that follow.

• During the year, Reindeer made estimated federal income tax payments totaling $57,000. If there is any overpayment of taxes, the accounting department has requested that you apply it towards next year's estimated tax.
• Reindeer paid a total of $26,623 of cash dividends to its preferred shareholders during theyear. Reindeer preferred stock is held by 17 different shareholders, none of whom own more than 10% of the stock in the company.
• Reindeer's two officers each own 50% of the company's common stock. May Merry is President of the company and will sign the return. Her compensation is $135,000. May'shusband, Jeremy Merry, is Vice-President. His compensation is $121,750.
• During the year, Reindeer sold two investments.
  • Anchorage City bonds, purchased on July 6, 2004, were sold on November 16, 2022,for $4,315. Reindeer's adjusted basis in the bonds was $5,740.
  • Reindeer sold 100 shares of National Bell common stock on March 14, 2022, for $20,600. Reindeer purchased this stock for $18,900 on May 9, 2021.
• The bad debt expense reported on the income statement is based on accrual accounting. Actual bad debts written off during the year were $4,590.
• Assume Form 4562 has been correctly filled out and that $14,092 of depreciation expensefor tax purposes is correct and equals the book expense.
• If Reindeer has a refund coming, apply it to its 2023 estimated tax. If it owes money, assume it will pay the tax on the due date and that there is no penalty.

Reindeer's current Financial statements below:

REINDEER MANUFACTURING COMPANY Income Statement REINDEER MANUFACTURING COMPANY Comparative Balance Sheets Beginning and End of 2022