Prepare Schedules M-1, K, and K-1 (for Blake Turin only) for tax year 2018.

SCHEDULES K, M-1, AND K-1 TAX YEAR 2018 INCOME: GROSS RECEIPTS 825,000 COST OF GOODS SOLD (550,500) QUALIFIED DIVIDEND INCOME 7,600 TAX-EXEMPT INCOME 3,500 TOTAL INCOME 285,600 EXPENSES: BOOK DEPRECIATION 12,800 SALARIES AND WAGES EXPENSE 90,000 POLITICAL CONTRIBUTIONS EXPENSE 2,000 RENT EXPENSE 12,000 STATE AND LOCAL TAXES 3,700 CHARITABLE CONTRIBUTIONS 6,500 INTEREST EXPENSE 6,700 BUSINESS INSURANCE EXPENSE 4,600 MEALS EXPENSE 4,500 SUPPLIES EXPENSE 3,100 TELEPHONE EXPENSE 4,100 UTILITIES EXPENSE 3,400 OFFICE EXPENSE 6,200 TOTAL EXPENSES 159,600 NET INCOME PER BOOKS 126,000 OTHER INFORMATION: NEWPORT NEWS, INC. P.O. BOX 120 RUMFORD, RI 02916 EIN 23-6392101 BLAKE TURIN 50% OWNER ADDRESS: 1700 ADDISON DRIVE PROVIDENCE, RI 02903 SSN: 088-76-6301 TAX DEPRECIATION TOTAL 10,300 IRC SECTION 179 INCLUDED IN TAX DEPRECIATION 8,200 TOTAL CASH DISTRIBUTIONS TO SHAREHOLDERS (50% EACH) 60,000 ADVANCE PAYMENT TAXABLE IN 2017 INCLUDED IN BOOK INCOME IN 2018 13,700