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Barbara "Barbie" Roberts started a personal shopping company, Barbie's Closet. It operates on a calendar year end. It began business on January 1, 2021. Barbara needs you to do the following: - Prepare the 2021 Corporate Tax Return (Be sure to attach any schedules required. Ignore penalties. State return is not required.) - Prepare a letter to Barbara Roberts: Explaining the advantages/disadvantages of Barbara's chosen type of entity Explaining the results of her tax returns - corporate Financial and tax advise - Prepare a presentation, including PowerPoint, citing the main points in your letter and returns for presentation to Barbara in a client meeting. Remember she is not an accountant, so she is not familiar with accounting terminology. The presentation should be designed as though you are in a meeting with Barbara and presenting the material to her. Please use the "Video Assignment" in D2L to present your video presentation. Note: the PowerPoint does not have to be shown in the video, but it is allowed. Barbies closet, Inc. Fed ID \#57-5555555 Address: 1000 Mattel Blvd Charleston, SC 29406 Cash basis of accounting is used The business is a personal service corporation Barbara contributed $30,000 to the corporation at formation and took a distribution of $10,000 on December 31st. Barbie's Closet did not make any estimated tax Barbie's Closet Balance Sheet December 31, 2021 Dividends were recelved from a less than 20% owned corporation. Depreciation for tax purposes is 25,000 . Form 4562 not required. Distributions from Barbie's Closet = , 000 CORAECTED (if checked) CORAECTED (if checked) Fim 1009-1NT thene thr werse ruvnotel. Wriat to asivingunosime: Fmployen on the buck of Copy B.) Barbara "Barbie" Roberts started a personal shopping company, Barbie's Closet. It operates on a calendar year end. It began business on January 1, 2021. Barbara needs you to do the following: - Prepare the 2021 Corporate Tax Return (Be sure to attach any schedules required. Ignore penalties. State return is not required.) - Prepare a letter to Barbara Roberts: Explaining the advantages/disadvantages of Barbara's chosen type of entity Explaining the results of her tax returns - corporate Financial and tax advise - Prepare a presentation, including PowerPoint, citing the main points in your letter and returns for presentation to Barbara in a client meeting. Remember she is not an accountant, so she is not familiar with accounting terminology. The presentation should be designed as though you are in a meeting with Barbara and presenting the material to her. Please use the "Video Assignment" in D2L to present your video presentation. Note: the PowerPoint does not have to be shown in the video, but it is allowed. Barbies closet, Inc. Fed ID \#57-5555555 Address: 1000 Mattel Blvd Charleston, SC 29406 Cash basis of accounting is used The business is a personal service corporation Barbara contributed $30,000 to the corporation at formation and took a distribution of $10,000 on December 31st. Barbie's Closet did not make any estimated tax Barbie's Closet Balance Sheet December 31, 2021 Dividends were recelved from a less than 20% owned corporation. Depreciation for tax purposes is 25,000 . Form 4562 not required. Distributions from Barbie's Closet = , 000 CORAECTED (if checked) CORAECTED (if checked) Fim 1009-1NT thene thr werse ruvnotel. Wriat to asivingunosime: Fmployen on the buck of Copy B.)

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