Prepare Form $1120$ for federal tax purposes for tax year $2023.$

Do NOT prepare any state tax returns.

The return should include the $1120$ and related statements$/$schedules$/$forms and forms $1125-$A$,1125-$E$,$ Schedule D and form $4562.$

Prepare Schedule M$-1.$

Prepare Schedule M$-3.$

 

Rose Enterprises, Inc. Public on NASDAQ Financial Statements 12/31/2023 Gross Sales 75,000,000 Sales and Returns (includes warranty reserve expense) Net Sales (2,500,000) 72,500,000 Cost of Good Sold (includes expense for inventory reserve) (30,000,000) Gross Profit Dividends- 55% owed US Corp 42,500,000 6,000,000 Dividends XYZ Stock owed in Corp own 10% Gain on Sale of XYZ shares 2,500,000 100,000 Interest Income City of Tustin Muni Bonds Treasuries Interest Checking Account Total Income 700,000 300,000 100,000 52,200,000