Using worksheet or tax return schedule

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Reference no: EM131888350

C Corp. reports the following information for 2015:

Net income per books $600,000

Federal income tax expense 200,000

State tax expense 60,000

Net capital loss (9,000)

Tax exempt interest income 12,000

Excess charitable contributions 8,000

Tax depreciation in excess of book depreciation 22,000

Business meals and entertainment 40,000

Unappropriated retained earnigs-1/1/15 900,000

Dividends paid in 2015 350,000

Based on the above information, complete Form 1120 Schedules M-1, M-2. Present your answer using a worksheet or tax return schedule.

Reference no: EM131888350

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