Melodic Musical Sales, Inc. is located at 5500 Fourth Avenue, City, ST 98765. The corporation uses the calendar year and accrual basis for both book and tax purposes. It is engaged in the sale of musical instruments with an employer identification number (EIN) of XX-2018016. The company incorporated on December 31, 2012, and began business on January 2, 2013. Table C:3-4 contains balance sheet information at January 1, 2016, and December 31, 2016. Table C:3-5 presents an unaudited GAAP income statement for 2016. These schedules are presented on a book basis. Other information follows the tables.
Estimated Tax Payments (Form 2220):
The corporation deposited estimated tax payments as follows:
April 15, 2016 June 15, 2016 September 15, 2016 December 15, 2016 Total
$110,000 220,000 270,000 270,000
$870,000

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