Tax Return Problem Wedsheet WC Ben Theodollow active duty 93.120 1209 Income $336,123 Interest income 1,259 Dividend income (qualified) 4,586 Long-term capital gains 13,458 Total revenue $355,426 Expenses Salaries and wages (nonofficers) $ 47,000 Salaries and wages, owners and officers 125,000 Depreciation (MACRSincludes $9,000 $ 179 expense) 41,888 Interest expense 5,220 Taxes and licenses 15,548 Meals (100%) 15,257 Auto 5,254 Insurance (nonofficer health) 6,000 Accounting and legal 2.800 Repairs 1,200 Charitable contributions 2,500 Payroll penalties 500 Total expenses $268.167 Net income $ 87,259 Net income 5 87259 During the year, the corporation made a distribution of $20,000, in total, to its shareholders. Complete page 1. Schedule and Schedule M-1 of Form 11205 Tax Return Problem Wedsheet WC Ben Theodollow active duty 93.120 1209 Income $336,123 Interest income 1,259 Dividend income (qualified) 4,586 Long-term capital gains 13,458 Total revenue $355,426 Expenses Salaries and wages (nonofficers) $ 47,000 Salaries and wages, owners and officers 125,000 Depreciation (MACRSincludes $9,000 $ 179 expense) 41,888 Interest expense 5,220 Taxes and licenses 15,548 Meals (100%) 15,257 Auto 5,254 Insurance (nonofficer health) 6,000 Accounting and legal 2.800 Repairs 1,200 Charitable contributions 2,500 Payroll penalties 500 Total expenses $268.167 Net income $ 87,259 Net income 5 87259 During the year, the corporation made a distribution of $20,000, in total, to its shareholders. Complete page 1. Schedule and Schedule M-1 of Form 11205