Reliant Corp., an accrual-basis calendar-year C corporation, filed its 2018 federal income tax return on April 15, 2019. Determine the amount of Reliant's 2018 Schedule M-1 adjustment with an indication of a positive or a negative effect on taxable income . (50 points)

	Schedule M-1 Adjustment
1. Reliant's disbursement included reimbursed employees expenses in 2018 for travel of $100,000, and business meals of $30,000.
2. Reliant's books expensed $10,000 in 2018 for the term life insurance premiums on the corporate officers. Reliant was the policy owner and beneficiary.
3. Reliant received $1,000 of interest income on bonds issued by the City of Los Angeles, California.
4. Reliant had a beginning credit balance in its warranty reserve account of $120,000. During the year, Reliant accrued estimated warranty expense of $16,000. At the end of the year, Reliant 's warranty reserve had a $90,000 credit balance.
5. Reliant's books indicated an $18,000 federal income tax expense for 2018.
6. Book depreciation on computers for 2018 was $10,000. Tax depreciation using MACRS with the half-year convention was $16,000.
7. Reliant increased its allowance for uncollectible accounts by $10,000. $7,000 of uncollectible receivables was written off in 2018.
8. At its corporate inception in 2015, Reliant incurred and paid $60,000 in organizational costs for legal fees to draft the corporate charter.
9. Reliant received $100,000 life insurance proceeds on death of corporate officer.
10. On January 1, 2018, Reliant received rental of $27,000 from a tenant for a three-year lease commencing January 1, 2018, to cover rents for the years 2018, 2019, and 2020.

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