Form 1120-Ic-Disc - Interest Charge Domestic International Sales Corporation Return Page 5
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Form 1120-IC-DISC (Rev. 9-2017)
Page
Schedule L
Balance Sheets per Books
(a) Beginning of tax year
(b) End of tax year
1
Qualified export assets:
a
Working capital (cash and necessary temporary investments) .
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b
Funds awaiting investment (cash in U.S. banks in excess of working capital
needs) in other qualified export assets
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c
Export-Import Bank obligations
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d
Trade receivables (accounts and notes receivable)
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Less allowance for bad debts .
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e
Export property (net) (including inventory and qualified property held for lease)
f
Producer’s loans .
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Investment in related foreign export corporations .
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h
Depreciable assets
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Less accumulated depreciation
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Other (attach statement)
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2
Nonqualified assets (net) (list):
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Total assets. Combine lines 1a through 2 .
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4
Accounts payable
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5
Other current liabilities (attach statement)
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6
Mortgages, notes, bonds payable in 1 year or more .
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Other liabilities (attach statement) .
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8
Capital stock .
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9
Additional paid-in capital
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10
Other earnings and profits .
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11
Previously taxed income (section 996(f)(2)) .
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12
Accumulated pre-1985 DISC income (see instructions) .
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13
Accumulated IC-DISC income (see instructions) .
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14
Less cost of treasury stock .
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15
Total liabilities and shareholders’ equity .
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Schedule M-1
Reconciliation of Income per Books With Income per Return
6 Income recorded on books this year not
1 Net income (loss) per books .
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included on this return (itemize):
2 Excess of capital losses over capital gains
3 Taxable income not recorded on books
7 Deductions on this return not charged
this year (itemize):
against book income this year (itemize):
4 Expenses recorded on books this year
and not deducted on this return (itemize):
8 Add lines 6 and 7 .
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5 Add lines 1 through 4 .
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9 Income (line 5, page 1)—line 5 less line 8
Schedule M-2
Analysis of Other Earnings and Profits (Line 10, Schedule L)
1 Balance at beginning of year
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5 Distributions to qualify under section 992(c)
2 Increases (itemize):
6 Other decreases (itemize):
3 Add lines 1 and 2 .
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7 Add lines 4 through 6 .
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4 Deficit in earnings and profits
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8 Balance at end of year (line 3 less line 7)
Schedule M-3
Analysis of Previously Taxed Income (Line 11, Schedule L)
1 Balance at beginning of year
5 Deficit in earnings and profits
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2 Deemed distributions under section 995(b)
6 Distributions to qualify under section 992(c)
3 Other increases (itemize):
7 Other decreases (itemize):
8 Add lines 5 through 7 .
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4 Add lines 1 through 3 .
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9 Balance at end of year (line 4 less line 8)
Schedule M-4
Analysis of Accumulated IC-DISC Income (Line 13, Schedule L)
1 Balance at beginning of year
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6 Distributions to qualify under section 992(c)
2 Increases (itemize):
7 Distributions upon disqualification (sec. 995(b)(2))
8 Other decreases (itemize):
3 Add lines 1 and 2 .
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4 Deficit in earnings and profits
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9 Add lines 4 through 8 .
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5 Redemptions under section 996(d) .
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10 Balance at end of year (line 3 less line 9)
1120-IC-DISC
Form
(Rev. 9-2017)
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