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					                                                  CICADA, INC.
                                          Form 1120 - Regular Corporation
                                                 Tax Worksheet

                                            TRIAL BALANCE          M-1 ADJUSTMENTS      TAX RETURN
ACCOUNT NAME                                Debit    Credit         Debit    Credit   Debit     Credit
Gross sales                                           405,100                                   405,100
Sales returns and allowances                  1,800                                     1,800
Cost of goods sold                          217,500                                   217,500
Dividends received (< 20% ownership)                    1,000                                     1,000
Interest income - U.S. Treasury notes                     800                                       800
Interest income - state bonds                           1,200                                     1,200
Fringe benefits                               3,600                                     3,600
Compensation of officers                     80,000                                    80,000
Salaries and wages                           18,300                                    18,300
Repairs                                       4,500                                     4,500
Bad debts                                       800                                       800
Rental expense                               12,000                                    12,000
Taxes (state, local, payroll)                 8,300                                     8,300
Interest expense - purchase state bonds       1,500                                     1,500
Interest expense - other                      4,000                                     4,000
Charitable contributions                      5,000                                     5,000
Depreciation                                  7,500                                     7,500
Advertising                                   6,000                                     6,000
Other expense                                 8,400                                     8,400
Long-term capital loss                        2,000                                     2,000
Lawsuit expense                              10,000                                    10,000
Federal income tax expense                    3,015                                     3,015
Dividends received deduction                                                              -
    Subtotals                               394,215     408,100         -        -    394,215   408,100
Book net income / Taxable income             13,885                     -              13,885
    TOTALS                                  408,100     408,100         -        -    408,100   408,100




                                                  Tax Worksheet

				
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