Timpanogos Incorporated is an accrual-method, calendar-year corporation. For 2023, it reported financial statement income after taxes of $1,436,850. Timpanogos provided the following information relating to its activities for the year:

Life insurance proceeds as a result of CEO's death	$ 214,000
Revenue from sales (for both book and tax purposes)	2,140,000
Premiums paid on the key-person life insurance policies. The policies have no cash surrender value.	22,400
Charitable contributions	192,600
Cost of goods sold for book and tax purposes	321,000
Interest income on tax-exempt bonds	42,800
Interest paid on loan obtained to purchase tax-exempt bonds	48,150
Rental income payments received and earned in 2023	16,400
Rental income payments received in 2022 but earned in 2023	10,700
Rental income payments received in 2023 but not earned by year-end	32,100
Tax depreciation	58,500
Book Depreciation	26,400
Net capital loss	44,800
Federal income tax expense for books	331,700

Complete Schedule M-1 for Timpanogos.

Note: Enter all values as positive numbers.

Schedule M-1: Reconciliation of Income (Loss) per Books With Income per Return
1. Net income (loss) per books
2. Federal income tax per books
3. Excess of capital losses over capital gains
4. Income subject to tax not recorded on books this year (itemize):
Rental income
5. Expenses recorded on books this year not deducted on this return (itemize):
a. Depreciation
b. Charitable contributions
c. Travel and entertainment
Interest paid to obtain tax-exempt bonds
Life insurance premiums
6. Total	0
7. Income recorded on books this year not included on this return (itemize):
Tax-exempt interest
Life insurance proceeds from CEOs death
8. Deductions on this return not charged against book income this year (itemize):
a. Depreciation
b. Charitable contributions
Section 263A costs
9. Total	$0
10. Income