Simulation 1. Enter values in each column(a-t) when the Corp began business in January current year. Indicate the values as positive or negative Book income Income Statement Tax Book M-1 Adjustment a Income Consulting feees Tax exempt interest Interest on bank account Expenses 1,880,000 1,880,000 b 2,400 C 16,400 16,400 d Organization expenses e 14,000 f Officer salaries Salary and wages Rent Utilities Advertising 800,000 800,000 g 240,000 240,000 h 76,800 76,800 i 12,000 12,000 j 30,000 30,000 k Repairs 2,000 2,000 | Taxes 10,000 10,000 m Employee benefits 2,000 2,000 n Interest 10,000 10,000 Supplies 7,000 7,000 Depreciation Income before contributions Charitable contributions Pre tax income 75,200 30,400 q 625,693 664,600 80,000 S ? 584,600 ? 186,560 t Net income ? 398,040