Required information [The following information applies to the questions displayed below.] Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2021. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2021: *Not considered a luxury automobile. During 2021, Karane was very successful (and had no $179 limitations) and decided to acquire more assets in 2022 to increase its production capacity. These are the assets acquired during 2022 : *Used 100% for business purposes. Karane generated taxable income in 2022 of $1,735,000 for purposes of computing the $179 expense limitation. (Use MACRS Table 1, Table 2, Table 3, Table 4, Table 5 , and Note: Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers. equired: Complete Karane Enterprises's Form 4562 for part (b). Jse 2022 tax rules regardless of year on tax form. Do not skip rows when entering property under line item 26 of Form 4562 ssets acquired during 2021 have to be entered under Section B part of Form 4562, page 1.) Prepare Form 4562. Prepare Form 4562. \begin{tabular}{|c|c|} \hline Form 4562PG & Form 4562PG \\ 1 & 2 \\ \hline \end{tabular} Form 4562 Page 2. Form 4562 (2022) Page 2 \begin{tabular}{l} \hline 26 Property used more than 50\% in a qualified business use: \\ \hline \end{tabular} Section B-Information on Use of Vehicles Complete this section for vehicles used by a sale proprietor, partner, or other "more than 5% owner," ar related person. If you pravided vehicles to your emplayees, first answer the questions in Section C to see if you meet an exception to completing this section for thase vehicles. Section C-Questions for Employers Who Provide Vehicles for Use by Their Employees Answer these questions to determine if you meet an exception to completing Section B for vehicles used by employees who aren't more than 5% owners or related persons. see instructicrss. 37 Do you maintain a written policy statement that prahibits all personal use of vehicles, including commuting, by your emplayees? 38 Do you maintain a written policy statement that prahibits personal use of vehicles, except commuting, by your emplayees? See the instructions far vehides used by corporate officers, directors, or 1% or more awners. 39 Do you treat all use of vehicles by employees as personal use? 40 Do you provide more than five vehicles to your emplayees, obtain information from your employees about the use of the vehicles, and retain the information received? 41 Do you meet the requirements concerning qualified autamabile demonstration use? See instructions. Note: " your answer to 37,38,39,40, or 41 is "Yes," dont complete Section B for the covered vehicles. Part VI Amortization (a) Description of costs \begin{tabular}{|l|l|l|l|l} \hline (b)Dateamortizationbegins(mm/did/yyyy) & (c) Amortizable amount & (d) Code section & (e)Amartizationperiodorpercentage & (f) Amartization for this year \\ \hline \end{tabular} 42 Amortization of costs that begins during your 2021 tax year (see instructions): \begin{tabular}{l|l|l|l|l|l|l|l|l|l|} \hline & & & & & \\ \hline \end{tabular} THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM IT SELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. 92022 MCGraw-HIII Education