Required information Comprehensive Problem 10-76 (LO 10-1, LO 10-2, LO 10-3, LO 10-4, LO 10-5) (Algo) [The following infarmation applies to the questions displayed below.] Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2023 In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2023: Date Placed in As=zet Cost Service Office furniture % 360,008 82/83 Machinery 1,778,888 a7/22 Used delivery truck* 82,088 88/17 *Not considered a luxury automobile. During 2023, Karane was very successful (and had no 8179 limitations) and decided to acquire more assets in 2024 to increase its production capacity. These are the assets acquired during 2024 Date Placed in Asset Cost Service Computers and information system $ 442,068 @3/31 Luxury auto 9@,589 85/26 Assembly equipment 1,280,000 B8/15 Storage building 700,000 11/13 *Used 100 percent for business purposes. Karane generated taxable income in 2024 of $1785,000 for purposes of computing the 179 expense limitation. (Use Note: Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers. Comprehensive Problem 10-76 Part e (Algo) Required: =. Complete Karane Enterprises's: Form 4562 for pert (bo). Use 2024 tax rules regardless of year on tax form. Do not skip rows when entering property under line Item 26 of Form 4562 Assets acquired during 2024 have to be entered under Section B part of Form 4562, page 1.} Prepare Form 4562. Farm 4562 PG Form 4562 PG Form 4562 Page 1. Form 4562 Depreciation and Amortization COMB ING. 1545-01/2 (Including Information on Listed Property) AFach to your bix return. 2023 I Ca to www.in pesbonnRequired: c. Complete Karane Enterprises's Form 4562 for pert (bo). (Use 2024 tax rules regardless of year on tax form. Do not skip rows when entering property under line Item 26 of Form 4562 Assets acquired during 2024 have to be entered under Section B port of Form 4562, page 1.} Prepare Form 4562. Farm 4562 PG Form 4562 PG Form 4562 Page 1. Form 4562 Depreciation and Amortization COMB ING. 1545-01/2 (Including Information on Listed Property) Moparbrand of I'm Inscary Attach to your tax return. 2023 Cate www.in. powbenn4212 for imfructos and the bfast Kamina Enterprises Parti Election To Expance Certain Property Under Bootion 178 Not If you have any listed property complete Fart V before you complete Fart I in 1MYpreparty Add mount in adom icl lines Band ? 13 Note: Do not use Fart ! or Fart W below for listed property: Instead, use Furt V. Part II Bpoolal Depreciation Allowance and Other Depreciation (Don't include listed property son instructions.) 14 In Catar dyneidan Induding A304 Part II MACRO Dopred ation Don't include listed property. Son instructiona) Buotion A 17 Snotion B-Accets Placed In Barvloe During 2024 Tex Your Using the General Depreolation Byctam by March and par Pinned in sonic pairical Comrainlan chadudin 27.5 Yours MMA 27.5 years MM Nonmaidendel nod propaity MM MM Beation C-Accele Placed In Servlos During 2023 Tax Your Using the Alternative Depreciation System 12 visira 30 yours 40 years MMM Part I Summary instructions] 21 Listed progairly Ender around Isen Tires 28 Far I'mperwork Induction Act Natecan yous separate instructions. Cat. No. 12306N THIS FORMISA SIMULATION OF AN ORTHCIAL US. TAXI-NOL II IS NOI THE OFICIAL FORM TISELF. DO NOT USE IMS FORM FOR TAX MILINGS DIEPLIC ANY PURPOSE DINER IMAN EDUCATIONAL 1 3024 MeGrow-Hill beduration. Form 4682 P0 2