Ted Turner (111-11-1112), Olivia Marx (222-22-2223), Dennis Clark (333-33-3334), and Toni Thompson (444-44-4445) are equal active members in Against the ROCK LLC. ROCK serves as agents and managers for prominent musicians in the Los Angeles area. The LLC's Federal ID number is 55-5555555. It uses the cash basis and the calendar year and began operations on January 1, 2006. Its current address is 6102 Wilshire Boulevard, Suite 2100, Los Angeles, CA 90036. The following information was taken from the LLC's income statement for the current year.

Revenues
Fees and commissions	$4,800,000
Taxable interest income from bank deposits	1,600
Tax-exempt interest	3,200
Net gain on stock sales	4,000
Total revenues	$4,808,800
Expenses
Advertising and public relations	$380,000
Charitable contributions	28,000
Section 179 expense	20,000
Employee salaries and wages	1,000,000
Guaranteed payment (services), Ryan Ross, office manager	800,000
Guaranteed payment (services), other members	600,000
Meals, subject to 50% disallowance	200,000
Travel	320,000
Legal and accounting fees	132,000
Office rentals paid	80,000
Interest expense on operating line of credit	10,000
Insurance premiums	52,000
Office expense	200,000
Payroll taxes	92,000
Utilities	54,800
Total expenses	$3,968,800

During the past couple of years, ROCK has taken advantage of bonus depreciation and 179 deductions and fully remodeled the premises and upgraded its leasehold improvements. This year, ROCK wrapped up its remodel with the purchase of $20,000 of office furniture for which it will claim a 179 deduction. (For simplicity, assume that ROCK uses the same cost recovery methods for both tax and financial purposes.)

ROCK invests much of its excess cash in non-dividend-paying growth stocks and tax-exempt securities. During the year, the LLC sold two securities. On June 15, 2018, ROCK purchased 1,000 shares of Tech, Inc., stock for $100,000; it sold those shares on December 15, 2018, for $80,000. On March 15, 2017, ROCK purchased 2,000 shares of BioLabs, Inc., stock for $136,000; it sold those shares for $160,000 on December 15, 2018. These transactions were reported to the IRS on Forms 1099B; ROCK's basis in these shares was reported.

Prepare an Excel Sheet calculating the following: Ordinary Business Income (Non-separately stated items), list all of the separately stated items and prepare a Book to Tax Reconciliation, similar to Schedule M-1. For the Ordinary Income I want to see the items in a proper Income Statement. List out all of the Separately Stated Items and make a spreadsheet for the M-1 Reconciliation. I want to see your WORK!