Question 1: Based on the data provided in the next page, enter the appropriate values in the shaded fields of form 1120 below. U.S. Corporation Income Tax Return 1120 20 OX Use IRS cout incorporated print or City or town, state, and ZP code service cop 0 b Less returns and allowances e Bal 1a Gross receipts or sales Cost of goods sold Schedule A Gross profit Subtract line 2 from line 10 Dividends (Schedule C, line 19 Gross rents Gross royalties 8 Capital gain net income (attach Schedule D (Form 11200 9 Net gain or Ooss) from Form 4797. Part ll, line 17 lattach Form 4797 other income (see instructions-attach schedule) 11 Total income Add Snes 3 10 Compensation of officers (Schedule E, line 40 13 salaries and wages ess employment creditsl Repairs and maintenance 14 Bad debts 8 16 Rents Taxes and loenses 19 return (attach Form 4562) 20 Depreciation from Form 4562 not claimed on schedule A or elsewhere on Pension, profit-sharing, etc. plans Employee benefit programs Domestic production activities deduction (attach Form 8903) other deductions (attach schedule) Total deductions. Add lines 12 through 26 28 Taxable income before net operating loss deduction and special deductions. Subtract Less: a Net operating loss deduction (see instructionsl Taxable income. Subtract line 29c from line 28 (see instructions) Total tax (Schedule J, line 100 32 a 2006 overpayment oredited to 2007 E2a b 2007 estimated tax payments c 2007 refund applied for on Form 4466 32 e Tax deposited with Form 7004 f Codas Form Estimated tax penalty (see instructions. Check if Form 2220 is attached Amount owed. line 32g is smaller than the total of lines 31 and 33, enter amount owed overpayment. 32g is larger than the total of lines 31 and 33, enter amount overpaid Enter amount from Ine 35 want Credited to 2008 estimated tax which prepare has anyknowledge. May the IRS discuss this Yes ONe