Please someone help me. I asked this question before and the answer I was given was wrong. I need the correct answer tonight!! Please someone help me.

Please use the Student Template Assignment 2 template (linked at the bottom of the page) for the assignment below.

Tarass Inc. is an accrual-method calendar-year corporation. Tarass, Inc. did not qualify for the domestic production activities deduction. The following information has been provided about the activities occurring in 2013:

Life insurance proceeds from CFOs death	$100,000
Revenue from sales	$3,500,000
Key person life insurance premium	$6,800
Utilities cost	$275,000
Employee benefits expense	$65,000
Intangible drilling costs	$40,000
Mining exploration and development costs	$60,000
Interest income on qualified private activity, tax-exempt bonds	$25,000
Interest paid on loan to purchase tax-exempt bonds	$25,000
Alternative Minimum NOL Deduction	$35,000
Rental income received and earned in 2013	$5,000
Rental income received but not earned in 201	$10,000
Overhead costs : Expensed in 2013	$5,000
Overhead costs expensed for financial reporting in 2012	$10,000
Charitable contributions	$315,000

Using Excel, prepare a reconciliation. Set up the Excel spreadsheet using the example below:

Line Item *a	2013 Taxable Income *b: I OR D OR N	Adjustments OR Preferences *c:		AMTI EFFECTS *d: Positive(P) Negative (N) Either (E)
		Adjustments (A) Neither(N)	Preferences (P)

NOTE *a: Line Item is each activity recorded for Tarass in 2013.

NOTE *b: 2013 Taxable Income refers to if the line item would increase, decrease, or have no effect on Tarasss book income under GAAP. Put an I if the line item would increase 2013 taxable income OR D if the item would decrease 2013 taxable income OR N if the line item would neither increase nor decrease 2013 taxable income.

NOTE *c: Adjustments OR Preferences refers to if the line item is an adjustment or a preference. Please place an A if the line item is an adjustments OR a P if the line item is a preference OR an N if the line item is neither an adjustment nor a preference.

NOTE *d: AMTI Effects refers to if the line item would have a positive, negative, or no effect on the Alternative Minimum Taxable Income. Please place a (P) for a positive affect OR (N) for a negative effect OR an (E) if the line item could have either a positive or negative effect. If the line item is not applicable to AMTI, leave the block blank.

NOTE: The student might want to consult with the IRS website, downloading the instructions for Form 4626 @http://www.irs.gov/pub/irs-pdf/i4626.pdf. Form 4626 can be downloaded @ http://www.irs.gov/pub/irs-pdf/f4626.pdf

			APPLICABLE
	2013 Taxable Income	Adjustments OR Preferences	AMTI AFFECTS
Line Item	"I" OR "D" OR "N"	"A" OR "P" OR "N"	"P" OR "N" OR "E"
Life ins. proceeds - CFOs death
Revenue from sales
Key-person life ins. premium
Utilities cost
Employee benefits expenses
Intangible drilling costs
Mining exploration and development costs
Interest income on qualified private activity tax-exempt bonds
Interest paid on loan to purchase tax exempt bonds
Alternative Minimum NOL Deduction
Rental income received & earned in 2013
Rental income received but not earned in 2013
Overhead cost - Expensed in 2013
Overhead cost - Expensed in 2012
Charitable contributions