Question: Needed help filling out these forms: 120 1120 Sch D 1120 Sch G 1125-A 1125-E Paddle Play, Inc Per Audited M-1 Adj. Tax Return Form

Needed help filling out these forms:

120

1120 Sch D

1120 Sch G

1125-A

1125-E

Needed help filling out these forms: 120 1120 Sch

Paddle Play, Inc Per Audited M-1 Adj. Tax Return Form Fin. Statement on Tax Return 2020 Tax Year Line Income Sales Revenue 6,236,199 6,236,199 1a 6 Cost of Goods Sold 5,195,689 5,195,689 7 Gross Profit 1,040,510 1,040,510 8 Dividend Income 103,873 103,873 9 Interest Income 2,270 (1,282) 988 5 10 Loss on Sale of Stock (Long Term (2,483) 2,483 15 11 Other Inc. (Recover Bad Debts) 0 660 660 15 12 Total Revenue 1,144,170 1,146,031 13 14 Officers Compensation (217,347) (217,347) 12 15 Other Salaries and Wages (478,1 10) (478,1 10) 13 16 Rental Expense (32,757) (32,757) 16 17 Interest Expense (82,877) (82, 877) 18 18 Fines (2,639) 2,639 0 19 Advertising Expense (8,352) (8,352) 22 20 Bad Debt Expense (3,105) 2,018 (1,087) 15 21 Depreciation Expense (107,050) (19,755) (126,805) 20 22 Goodwill (1,514) (1,514) 23 Tax Expense (75,295) (75,295) 17 24 Repairs and Maintenance Exp. (6,996) (6,996) 14 25 Miscellaneous Expense (18,904) 776 (18,128) 26 26 Income Tax Expense (3,104) 3,104 0 17 27 Net Inc. before Contrib 107,634 96,763 29a 28 Contributions (34,932) 3,417 (9,676) 19 29 1,552 30 20,287 31 Net income Per Books 72, 702 14,385 32 T. I. before DRD 87,087 33 100% DRD (No limit, always 100%) (19,406) 34 Subtotal 67,681 35 50% or 65% DRD (Limit may apply) (33,841) 36 T.I. After DRD 33,840 30 37 38

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