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Required: Complete Blue Catering Service Inc.'s (BCS) 2021 Form 1120, Schedule D, and Schedule G (if applicable) using the information provided below. Form 4562

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Required: Complete Blue Catering Service Inc.'s (BCS) 2021 Form 1120, Schedule D, and Schedule G (if applicable) using the information provided below. Form 4562 for depreciation is not required. Include the amount of tax depreciation given in the problem on the appropriate line on the first page of Form 1120. Forms 1125-A and 1125-E are not required. . If any information is missing, use reasonable assumptions to fill in the gaps. Facts: Cara Siler, Janna Funk, and Valerie Cloward each own one-third of the common stock of Blue Catering Services Inc. (BCS). BCS was incorporated on February 4, 2012. It has only one class of stock outstanding and operates as a C corporation for tax purposes. BCS caters all types of social events throughout southern California. BCS is located at 540 Waverly Way, San Diego, California 92101. . BCS's Employer Identification Number is 38-4743474. . . . BCS's business activity is catering food and services. Its business activity code is 722300. The shareholders also work as officers for the corporation as follows: Cara is the chief executive officer and president (Social Security number 231-54- 8976). Janna is the executive vice president and chief operating officer (Social Security number 798-56-3241). Valerie is the vice president of finance (Social Security number 879-21-4536). All officers devote 100 percent of their time to the business and all officers are U.S. citizens. BCS made payments that require it to file several Form 1099s for 2021. These forms will all be filed prior to the tax return. BCS uses the accrual method of accounting and has a calendar year-end. BCS made four equal estimated tax payments of $8,750 each. Its tax liability last year was $41,000. If it has overpaid its federal tax liability, BCS would like to receive a refund. BCS paid a dividend of $30,000 to its shareholders on November 1. BCS had ample earnings and profits (E&P) to absorb the distribution.

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