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Razorback Sports Inc. was formed in $2019$ by Austin Williams and Tyler Jacobs. Austin and Tylerofficially incorporated their store on March $12,2019.$ Razorback Sports sells all kinds of sports$-$relatedproducts including equipment, uniforms and athletic shoes. Austin owns $60\%$ of the outstandingcommon stock of Razorback Sports and Tyler owns the remaining $40\%.$Razorback Sports is located at $123$ College Ave, Fayetteville, AR $72701.$ Its employer identificationnumber is $29-5748859$ and its business activity code is $451110.$ Razorback Sports uses the accrualmethod of accounting and has a calendar year$-$end.The officers of Razorback Sports and their Social Security numbers are:Name Title SS numberAustin Williams CEO$/$President $123-45-6789$Tyler Jacobs Executive VP $789-12-3456$Kellie Francis Operations VP $321-54-9876$Jason Roberts Secretary $987-65-4321$A trial balance for the corporation is attached. Additional information is presented below.Amount$1.$ Razorback Sports has a capital loss carry over from last year of $2,4852.$ Interest income:a$.$ From a City of Fayetteville bond that was used to fund new police station $3,834$b$.$ From a U$.$S$.$ Treasury bond $2,432$c$.$ From a money market account $4,3843.$ Razorback Sports sold equipment.a$.$ Selling price $6,958$b$.$ Original purchase price $8,094$c$.$ Total book depreciation on the equipment $4,083$d$.$ Total tax depreciation on the equipment $5,6094.$ Razorback Sports' dividend income came from Cardinal Inc. Razorback Sports owned $25,000$shares of the stock in Cardinal at the beginning of the year. This represented $25\%$ of theCardinal outstanding stock$\mathrm{.}5.$ On July $22,2023$ Razorback Sports sold $2,500$ shares of its Cardinal Inc. stock.a$.$ Selling price $24,850$b$.$ Razorback originally purchased these shares on April $24,201917,040$c$.$ After the sale, Razorback Sports owned $22\mathrm{.}5\%$ of Cardinal Inc$\mathrm{.}6.$ Interest expense:a$.$ From the mortgage on Razorback Sports' building $42,600$b$.$ From loan used to purchase City of Fayetteville bonds $1,420$The business expense limit does not apply to Razorback Sports$27.$ Wages to non$-$officers are $8.9.10.1112.13.14.15.16.17.18.401,150$

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