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Needing help with having to preparing a 1120 S for 2020 year

Thanks for your help!!!

A complete layout of 1120 S return would be great thanks it is hard to follow a spreadsheet.

LEMS Bottle-Up, Inc., was organized on January 8, 2010, and made its S election on January 24, 2010. The necessary consents to the election were filed in a timely manner. Its ad- dress is 1234 Hill Street, City, ST 33333. Bottle-Up uses the calendar year as its tax year, the accrual method of accounting, and the first-in, first-out (FIFO) inventory method. Bottle-Up manufactures ornamental glass bottles. It made no changes to its inventory costing methods this year. It uses the specific identification method for bad debts for book and tax purposes. Herman Hiebert and Melvin Jones own 500 shares each. Both individu- als materially participate in Bottle-Up's single activity. Herman Hiebert is the tax matters person. Financial statements for Bottle-Up for the current year are shown in Tables C11-2 through C:11-4. Prepare a 2019 S corporation tax return for Bottle-Up, showing yourself as the paid preparer. $2,500,000 (15,000) $2,485,000 $ 102,000 900,000 200,000 80,000 100,000 188,000 $1,570,000 (96,000) Sales Returns and allowances Net sales Beginning inventory Purchases Labor (W-2 wages) Supplies Utilities Other manufacturing costs Goods available for sale Ending inventory Gross profit Salaries Utilities expense Depreciation (MACRS depreciation is $36,311) Automobile and truck expense Office supplies expense Advertising expense Bad debts expense Rent expense Interest expense Meals and entertainment expensed Selling expenses Repairs and maintenance expense Accounting and legal expense Charitable contributions 1,474,000 $1,011,000 $ 451,020 54,000 11,782 26,000 9,602 105,000 620 30,000 1,500 12,500 108,500 38,000 4,500 9,000 24,500 11,000 36,980 2,500 1,000 (938,004) $ 72,996 Insurance expense Hourly employees' fringe benefits Payroll taxes Other taxes Penalties (fines for overweight trucks) Operating profit Other income and losses: Long-term gain on sale of capital assets Sec. 1231 loss Interest on U.S. Treasury bills Interest on State of Florida bonds Dividends from domestic corporations Investment expenses Net income $ 48,6669 (1,100) 1,200 600 11,600 (600) 60,366 $ 133,362 Officer salaries of $120,000 are included in the total. All are employer's W-2 wages. The AMT depreciation adjustment on personal property is $9,000 Investment interest expense is $500. All other interest expense is trade- or business-related None of the interest ex- pense relates to the production of tax-exempt income. d of $12,500 total, $4,000 allocated to meals and $8,500 allocated to entertainment The corporation made all contributions in cash to qualifying chanties. * Includes $3,000 of premiums paid for policies on lives of corporate officers. Bottle-Up is the beneficiary for both policies. 9 The corporation acquired the capital assets on March 3, 2017 for $100,000 and sold them on September 15, 2019, for $148,666 The corporation acquired the Sec 1231 property on June 5, 2018 for $10,000 and sold it on December 21, 2019, for $8.900. ottle-Up, Inc. Balance Sheet for January 1 and December 31 of the Current Year Problem C:11-61) January 1 December 31 Assets: Cash Accounts receivable Inventories Stocks Treasury bills State of Florida bonds Building and equipment Minus: Accumulated depreciation Land Total $ 15,000 41,500 102,000 103,000 15,000 10,000 375,434 (161,318) 160,000 $660,616 $116,948 45,180 96,000 74,000 16,000 10,000 375,000 (173,100) 190,000 $750,028 Liabilities and equities: Accounts payable Accrued salaries payable Payroll taxes payable Sales taxes payable Due to Mr. Hiebert Mortgage and notes payable (current maturities) Long-term debt Capital stock Retained earnings Total $ 36,000 12,000 3,416 5,200 10,000 44,000 210,000 10,000 330,000 $660,616 $ 10,000 6,000 7,106 6,560 5,000 52,000 260,000 10,000 393,362 $750,028 V TABLE C:11-4 Bottle-Up, Inc. Statement of Change in Retained Earnings, for the Current Year Ended December 31 (Problem C:11-61) $330,000 Balance, January 1 Plus: Net income Minus: Dividends $133,362 (70,000) 63,362 Balance, December 31 $393,362 The January 1 accumulated adjustments account balance is $274,300 a Required: Prepare the 2019 S corporation tax return (Form 1120-S), including the fol- lowing additional schedules and forms: Schedule D, Form 4562, and Schedule K-1. Optional: (1) Complete Schedule M-2 in Form 1120-S even though the company has never been a C corporation. For this purpose, the accumulated adjustments account at the beginning of 2019 is $171,360. (2) Prepare a schedule for each shareholder's basis in his or her S corporation stock. For this purpose, Bailey's stock basis at the beginning of 2019 is $1,251,408 and Firth's is $2,535,952. Short Tax Form. Refer to the facts in Problem C:11-36, and prepare Form 1120-S, Schedule K based on these facts