RAr, Inc. has book income of $118,500 property determined in accordance with financial accounting principles. The following information is also available:

• Income tax expense on the financial statements was $31,500.
• Depreciation expense on the financial statements is $15.000 less than depreciation expense determined using tax laws.
• The book income includes $7,500 of tax-exempt municipal bond interest income.

Complete Schedule M-1 of Form 1120 to determine RNP, Inc.'s income for tax purposes.

Upload your completed Schedule M-1 here.

RNP, Inc. has book income of $118.500 properly determined in accordance with financial accounting principles. The following information is also available: - Income tax expense on the financial statements was $31,500. - Depreciation expense on the financial statements is $15,000 less than depreciation expense determined using tax laws. - The book income includes $7,500 of tax-exempt municipal bond interest income. Complete Schedule M-1 of Eorm 1120 to determine RNP, Inc.'s income for tax purposes. Upload your completed Schedule M1 here