Prepare Pages 1-5 of Form 1120. (Be sure you attach supporting schedules for any lines that say "Other.")

Prepare Form 4797.

Funky Chicken, Inc. Income Statement (Per Books) For Year Ended 12/31/15 Sales Revenue COGS Gross Profit Operating Expenses: Compensation Depreciation Employment Taxes Bad Debt Expense Interest Warranty Expense Meals & Entertainment Repairs & Maintenance Fines & Penalties Charitable Contributions Other Business Expenses $ $ $ 1,300,000 -700,000 600,000 230,000 80,000 36,800 18,000 74,000 3,000 14,000 18,500 900 10,000 55,000 (540,200) Other Income (Losses): Interest Received on State of Nevada Bonds Dividends Received from Coca-Cola Capital Loss on Abercrombie Stock Gain on Sale of Equipment Net Income Before Taxes Federal Income Tax Expense State (NC) Income Tax Expense Net Income 7,000 20,000 (38,000) 30,000 19,000 $ $ 78,800 (26,792) (4,728) 47,280 Additional Information: 1 MACRS depreciation is $140,000. No assets were placed in service this tax year. None of the depreciation is allocated to COGS (263A). 2 Funky Chicken wrote off $25,000 in accounts receivable as uncollectible during the year. 3 Funky Chicken owns