You will need to complete the attached M-1 schedule based on the information below. You should not need to add lines into the schedule.I have the formula's set up as well.You just need to figure out what goes on the lines and the amounts.
The following information for 2015 relates to Brown Corp, a calendar year, accrual method taxpayer.
Net Income per books (after-tax) $175,000
Federal income tax per books 42,250
Tax-exempt interest income 10,250
Life insurance proceeds received as a result of death of corporate president 102,000
Excess of capital loss over capital gains 6,000
Premiums paid on life insurance policy on life of Brown's president 7,800
Meals & Entertainment (amount deducted on GAAP financial statements) 6,100
Depreciation (amount deducted on GAAP financial statements) 126,500
Depreciation (amount calculated for tax purposes under MACRS) 139,500