Univex is a calendar year, accrual basis retail business Univex hold less than 20 of IBM stock Its financial statements provide the following information for the year Revenues from sales of goods$783,200Cost of goods sold (FIFO)(417,500)Gross profit$365,700Interest income from certificates of deposit1,300Dividend income from IBM stock6,720Gain from sale of IBM stock purchased in 20008,615Bad debt expense3,900Administrative salaries and wages153,400Business and employment taxes31,000Interest expense on debt incurred to buy inventory5,100Advertising7,000Meals3,780Property insurance premiums4,300Depreciation10,800Repairs and maintenance18,700Supplies4,120Utilities21,000Contributions to charity5,000 Univex's records reveal the following facts Bad debt expense equals the addition to an allowance for bad debts Actual write offs of uncollectible accounts totaled $2,000 MACRS depreciation for the year was $21,240 Univex made no dispositions of operating assets The owners did not receive compensation or withdraw any funds from Univex Univex is entitled to an $1,800 general business credit Required a Assume Univex is a sole proprietorship Complete Schedule C, Form 1040 b 1 Assume Univex is an LLC Complete page 1, Form 1065 b 2 Assume Univex is an LLC Complete Schedule K, Form 1065 c 1 Assume Univex is a corporation operating in a state without a corporate income tax Univex made estimated federal tax payments totaling $23,500 Compute taxable income on page 1, Form 1120, calculate Univex's federal income tax, and complete page 1, 2019 Form 1120 c 2 Assume Univex is a corporation operating in a state without a corporate income tax Univex made estimated federal tax payments totaling $23,500 Reconcile Income (Loss) as per Books With Income per Return Complete Schedule M 1, page 6, Form 1120

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Univex is a calendar year, accrual basis retail business. Univex hold less than 20% of IBM stock. Its financial statements provide the following information for

Univex is a calendar year, accrual basis retail business. Univex hold less than 20% of IBM stock. Its financial statements provide the following information for the year:

Revenues from sales of goods$783,200Cost of goods sold (FIFO)(417,500)Gross profit$365,700Interest income from certificates of deposit1,300Dividend income from IBM stock6,720Gain from sale of IBM stock purchased in 20008,615Bad debt expense3,900Administrative salaries and wages153,400Business and employment taxes31,000Interest expense on debt incurred to buy inventory5,100Advertising7,000Meals3,780Property insurance premiums4,300Depreciation10,800Repairs and maintenance18,700Supplies4,120Utilities21,000Contributions to charity5,000

Univex's records reveal the following facts:

Bad debt expense equals the addition to an allowance for bad debts. Actual write-offs of uncollectible accounts totaled $2,000.
MACRS depreciation for the year was $21,240.
Univex made no dispositions of operating assets.
The owners did not receive compensation or withdraw any funds from Univex.
Univex is entitled to an $1,800 general business credit.

Required:a.Assume Univex is a sole proprietorship. Complete Schedule C, Form 1040.
b-1.Assume Univex is an LLC. Complete page 1, Form 1065.
b-2.Assume Univex is an LLC. Complete Schedule K, Form 1065.
c-1.Assume Univex is a corporation operating in a state without a corporate income tax. Univex made estimated federal tax payments totaling $23,500. Compute taxable income on page 1, Form 1120, calculate Univex's federal income tax, and complete page 1, 2019 Form 1120.
c-2.Assume Univex is a corporation operating in a state without a corporate income tax. Univex made estimated federal tax payments totaling $23,500. Reconcile Income (Loss) as per Books With Income per Return. Complete Schedule M-1, page 6, Form 1120.