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Business tax 9. LO 11.4 Caloundra Corporation has book income of $40,000. Included in...

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Accounting

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Business tax

9. LO 11.4 Caloundra Corporation has book income of $40,000. Included in the book income is $3,000 of tax-exempt interest, $7,000 of book income tax expense, and a $2,000 non-deductible fine. Also included in book income are $10,000 of dividends Caloundra received from a 30% owned corporation. Using this information and Form 1120, provide the amounts that go on each line on the form 1. Form 1120, Schedule M-1 Line 1$ 2. Form 1120, Schedule M-1, Line 10 $ 3. Form 1120, Page 1, Line 28 $ 4. Form 1120, Schedule C, Line 2(a) $and 2(c) $ 5. Form 1120, Schedule C, Line 24 $ 6. Form 1120, Page 1, Line 29b $ 7. Form 1120, Page 1, Line 30 $

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