Please complete a $20231120$ for Badger Corporation. Please skip Schedule K$.$ Badger Corp. was incorporated$(1)/(1)()/(92)$ and their employer ID number is $25-8675309.$ Their address is $123$ Washington Avenue in Springfield, IL $54675.$ We won't have to do the $1125-$E as our gross receipts are not $>=500,000.$ This is worth $20$ points Balance sheet as of$(12)/(31)()/(23)$ Income Statement per Books $1120$ Year Ended$(12)/(31)()/(23)$ Income statement Assets Income per tax code cash $25,000$ Sales Revenue $195,000$ inventory $3,000$ Interest Earned $275$ equipment $40,000$ Gross Income $195,275$ accumulated depreciation $(6,000)$ Total Assets $62,000$ COGS Beginning Inventory $2,500$ Purchases $65,000$ Liabilities Ending Inventory $(3,000)$ Payroll Withholding payable $1,200$ COGS $64,500$ sales tax payable $1,000$ Gross Profit $130,775$ bank loan payable $20,000$ Total Liabilities $22,200$ Expenses Accounting $1,400$ Equity Payroll Taxes $10,000$ Common Stock $10,000$ Bank Charges $300$ Retained Earnings $34,800$ Depreciation $2,5004,000$ Distributions $(5,000)$ Health Insurance $5,200$ Total Equity $39,800$ Interest Expense $1,200$ Meals & Entertainment $600300$ Total Liabilities and$($ O$)/($E$)62,000$ Advertising $400$ Office supplies $250$ The beginning balance for retained earnings Business Insurance $2,000$ for the m$-2=29,450.$ Repairs $550$ Rent $12,000$ Utilities $3,000$ Wages $85,000*$ State Income tax $750$ Federal Income Tax $2750$ Total Expenses $125,425$ Net Income Per Books $5,350?$ ownership $\%*$ Samantha's wages were $15,00050$ Brenna's wages were $12,00050$ Estimated tax payments during year $=$ $$275$ Round all numbers on the returns to the nearest dollar! Any numbers $50$ cents or higher round up$.$ If you don$$t round or round incorrectly your score will be reduced.