Screen: 1120 Unit: 1 Client: 62 Paradise Produce Dist., Inc.

1120 (2015)
Corporate Income Tax Return
1120 and 1120S Information

EIN 59-3024048
Name PARADISE PRODUCE DIST., INC.
Doing business as
Address 5151 S. LAKELAND DRIVE, SUITE 1
City, state, zip code LAKELAND FL 33813
Foreign country
Foreign province or state
Foreign postal code
Special processing:
Disaster relief
Other (Paper filing only, not disaster relief)
State of incorporation (If different from state postal code) FL
Country of incorporation
Date incorporated 10/01/1990
Business code GROCERY & RELATED PRODUCT 424400
Initial return
Final return (Also marks all K-1's as final)
Suppress next year's proforma
Superseding return
Name change
Address change
Qualified farmer or rancher
Officer first and last name JOEL SILVERMAN
Officer title PRESIDENT
Client phone number 863-648-0303
IRS may discuss return with preparer (1 = Yes, 2 = No) 1
Number of months - tax annualization
General footnote
Client complexity factor: Additional
Overall (Force)

Year End Information Depreciation Information

Tax year beginning (Complete if short or 52-53 week year) Prior year-ends, if different:
Tax year ending (If different from 12/31/15 tax year end) 12/31/15 Oldest
Type of 52-53 week year Interim
Print 52-53 week election (Initial election year only) Most recent
2016 tax year ending (For filing instructions) 12/31/16

1120S Information 1120 Information

S election effective date 10/01/97 Part of controlled group

S election terminated or revoked PSC under Regulation 1.441-3(c)
Suppress calculation of shareholder basis worksheet Qualified PSC subject to flat 35% tax rate
Suppress data share of basis worksheet Section 444 election applies to PSC
Data share beginning basis and prior suspended losses Closely held corporation
 Screen: Contact Unit: 1 Client: 62 Paradise Produce Dist., Inc.
Contact (2015)
Client Contact Information
Authorized Signer

Officer's social security number (For eSignature and state use)

Client Information
See Setup > Client Communications for email and password information

Email address (Officer) JOEL@PARADISEPRODUCE.COM

Phone numbers:
Work 863-648-0303
Extension
Fax 863-644-3790
Home
Mobile 863-660-8797
Mobile #2
Pager
Other:
Phone number
Extension
Preferred method of contact

Return Information

Tax return delivery method used (1 = Paper, 2 = Email PDF, 3 = PDF to file, 4 = Web) 1
 Screen: OthInfoS Unit: 1 Client: 62 Paradise Produce Dist., Inc.
OthInfoS (2015)
Other Information
Schedule B

Method of accounting (1 = Cash, 2 = Accrual, 3 = Other) 2

Other (specify)
Business activity BROKER
Product or service PRODUCE
Corporation at year end owns 20% or more directly, or 50% or more indirectly of:
Total stock of any foreign or domestic corporation?
An interest in the profit, loss, or capital in any foreign or domestic partnership, or a trust?
For corporations with outstanding shares of restricted stock at end of the tax year:
Total shares of restricted stock
Total shares of non-restricted stock
For corporations with outstanding stock options, warrants, or similar instruments at end of the tax year:
Total shares of stock outstanding at end of the tax year
Total shares of stock outstanding if all instruments were executed
Corporation has or is required to file Form 8918, Material Advisor Disclosure Statement (1 = Yes, 2 = No) 2
Corporation issued debt instruments with original issue discount
Net unrealized built-in gain less net recognized built-in gain from prior year, if applicable
Accumulated earnings and profits at year-end
For corporations that had non-shareholder debt canceled, forgiven, or terms modified to reduce
principal amount of debt during the tax year:
Principal amount of reduction
Qualified subchapter S subsidiary election terminated or revoked during the tax year (1 = Yes, 2 = No)
Corporation made payments that require Form(s) 1099 to be filed? (1 = Yes, 2 = No) 1
If yes, did corporation file or will it file all required Forms 1099? (1 = Yes, 2 = No) 1

Exception From Filing Form 5471

Name of taxpayer filing Form 5471

Address
City, state, zip code
Foreign country
Identifying number
IRS service center where return was or will be filed
Statement that filing requirements have been or will be satisfied
 Screen: POA Unit: 1 Client: 62 Paradise Produce Dist., Inc.
POA (2015)
Power of Attorney and Tax Information Authorization
Form 2848 and 8821 General Information

Power of Attorney or Tax Information Authorization (1 = 2848, 2 = 8821, 3 = Both)

IRS Service Center for power of attorney MEMPHIS, TN 38118
Send copies of notices to representative(s) for Form 2848 (Blank = 1st rep, 1 = 2nd rep, 2 = 1st and 2nd reps, 3 = No reps) 3
No notices sent to representative (Form 8821 only)

Representative and Appointee Information

Representative information can be added under Setup > System/Office Configuration > Preparers

Representative #1: Name

Address
City, state, zip code
CAF number
PTIN
Telephone number Fax number
Designation Jurisdiction
License, Bar or enrollment number
New: Address Telephone Fax

Representative #2: Name

Address
City, state, zip code
CAF number
PTIN
Telephone number Fax number
Designation Jurisdiction
License, Bar or enrollment number
New: Address Telephone Fax

Representative #3: Name

Address
City, state, zip code
CAF number
PTIN
Telephone number Fax number
Designation Jurisdiction
License, Bar or enrollment number
New: Address Telephone Fax

Representative #4: Name

Address
City, state, zip code
CAF number
PTIN
Telephone number Fax number
Designation Jurisdiction
License, Bar or enrollment number
New: Address Telephone Fax
 Screen: Letter Unit: 1 Client: 62 Paradise Produce Dist., Inc.
Letter (2015)
Client Documents
Transmittal Letters and Filing Instructions
Custom transmittal letter number (Replaces 1120 default transmittal letter)
Custom paragraphs: Number Description
To select custom paragraphs to print for all clients
when applicable, or to edit or create a custom paragraph,
choose Setup > 1120 Corporation > Letters & Emails,
then click the Custom Paragraphs tab.

Salutation JOEL
Heading for shareholder transmittal letter and return address for shareholder slipsheet
Suppress header on shareholder transmittal letter
Suppress basis paragraph on shareholder transmittal letter (S Corp)
IRS Service Center CINCINNATI, OH 45999
Address to send Form 1120ES-VI, Virgin Islands corporate estimates (1 = St. Thomas, 2 = St. Croix)
EFT options used in filing instructions: (1 = ACH Debit, 2 = ACH Credit, 3 = ACH Debit or ACH Credit)
Corporate filing instruction
Extension filing instruction
Estimate filing instruction

Invoices
Custom invoice number (Replaces 1120 default invoice)
Prior year gross invoice amount (Before prior payments received, discounts, or sales tax) 0.00
Invoice amount (Force) (Before additional invoice items, prior payments received, discounts, or sales tax)
Additional invoice items
Prior payments received
Apply a discount of dollars OR percent to invoice:
Dollar discount
Percent discount (xxx.xx)
New referral Referred by
Client invoice number
Suppress client invoice

Miscellaneous Variables and Mailing Slipsheet

Miscellaneous variables can be entered into transmittal letters, filing instructions or invoices

Miscellaneous text variable #1

Miscellaneous text variable #2
Miscellaneous amount variable #1
Miscellaneous amount variable #2
Attention to whom the return should be mailed
Return mailing address (If different from Screen 1120)
Slipsheet name
Slipsheet doing business as
Slipsheet address
Slipsheet city, state, zip code
Slipsheet foreign country
Slipsheet foreign province or state
Slipsheet foreign postal code
Do not proforma slipsheet force fields to next year
 Screen: OrgOptns Unit: 1 Client: 62 Paradise Produce Dist., Inc.
OrgOptns (2015)
Organizer Options and Client Documents
Organizer Options

Due date to return completed Organizer

Organizer presentation (1 = Questionnaire only, 2 = Spreadsheet only, 3 = Questionnaire and Spreadsheet) 3
Spreadsheet display options: (1 = Always, 2 = Never, 3 = If data)
Shareholder information 1 Farm rent 3
Shareholder basis (S Corp) 1 Rent 3
Changes of ownership 1 Estimated payments (C Corp)
Officers 1 Bank 1
Income and deductions 3 Vehicle mileage 1
Separate income and deductions (S Corp) 3 Vehicle questions 1
Cost of goods sold 3 Asset purchases 1
Assets 3 Asset sales 1
Liabilities and equity 3 Employee health insurance 1
Farm 3
Organizer delivery method used (1 = Paper, 2 = Email PDF, 3 = PDF to file, 4 = Web, 5 = None)

Cover Letter and Questionnaire

Custom Organizer Cover Letter number (Replaces 1120 Organizer default Cover Letter)
Custom Organizer Questionnaire number (Replaces 1120 Organizer default Questionnaire)
Custom paragraphs: Number Description
To select custom paragraphs to print for all clients when
applicable, or to edit or create a custom paragraph, choose
Setup > 1120 Corporation > Organizer > Letters & Emails
then click the Custom Paragraphs tab.

Miscellaneous Variables

Miscellaneous text variable #1

Miscellaneous text variable #2
 Screen: ELF Unit: 1 Client: 62 Paradise Produce Dist., Inc.
ELF (2015)
Electronic Filing
General Information

File this return electronically (Only Forms 1120, 1120-F and 1120S can be electronically filed; this includes both C and S consolidated returns) X
Signature date 6/07/16
ERO signature date (If different from Signature date)
Preparer notes
Suppress the creation of:
State electronic file when only filing the federal return, extension or FinCEN Form 114 electronically
Federal electronic file when only filing a state return, extension or FinCEN Form 114 electronically
Email notification when electronic file is accepted by taxing agency (Links to Setup > Client Communications)
Form 8453 or 8879 has already been signed and returned (Links to Utilities > Electronic Filing Status) X
Electronic funds withdrawal for balance due returns: (Enter electronic funds withdrawal account information on Screen Bank)
Requested payment date (Mandatory if using the electronic funds withdrawal method)
Amount of tax payment (Force)
For amended returns:
Electronic funds withdrawal for balance due returns: (Enter electronic funds withdrawal account information on Screen Bank)
Requested payment date (Mandatory if using the electronic funds withdrawal method)
Amount of tax payment (Force)

Calculated Value Force

Name control PARA

Personal Identification Number (PIN) Information

These fields are mandatory if using the Practitioner PIN option. The IRS will reject any returns that contain missing or
incorrect PIN information. To use Form 8453-C, 8453-I, or 8453-S, leave this section blank.

PIN authorization indicator (1 = Taxpayer entered PIN, 2 = ERO entered taxpayer PIN) 2
Taxpayer PIN (Enter five numbers, other than all zeros) 24048
ERO PIN (Enter five numbers, other than all zeros) 60708
Print Form 8879-C, 8879-I or 8879-S (Prior to creating the electronic file)

Extension Information
Signature date, taxpayer PIN and ERO PIN are mandatory fields if electronic funds withdrawal for extension is selected.
The IRS will reject any extensions that contain missing or incorrect PIN information when using electronic funds withdrawal.

File extension electronically (Form 7004 can be electronically filed for any corporate return supported by UltraTax/1120)
Extension signature date
Extension PIN authorization indicator (1 = Taxpayer entered PIN, 2 = ERO entered taxpayer PIN)
Extension taxpayer PIN (Enter five numbers, other than all zeros)
Extension ERO PIN (Enter five numbers, other than all zeros)
Form 8878-A has already been signed and returned (Links to Utilities > Electronic Filing Status)
Electronic funds withdrawal for extension: (Enter electronic funds withdrawal information on Screen Bank)
Requested payment date (Mandatory if using the electronic funds withdrawal method)

Estimate Information

Electronic funds withdrawal for Form 1120-W estimated payments (For estimates with amounts greater than zero)
 Screen: PmtExt Unit: 1 Client: 62 Paradise Produce Dist., Inc.
PmtExt (2015)
Payments and Extension
Payments

Prior year overpayment

Total, or
Treat calculated amounts as paid
Specific payments if unequal or not timely: Date Paid Amount Paid Calculated Amount
1st payment
2nd payment
3rd payment
4th payment
5th payment
Paid with extension
Backup withholding (C Corp)
Calculate Form 4466
Total tax shown on Form 4466 (Force)
Form 4466 refund
Form 2439 credit (C Corp)
Other refundable credits (C Corp)

Extension

Change in accounting period

Other reason for short tax year
Three month extension Regulation 1.6081-5
Extended due date (For transmittal letter, filing instructions, penalties and interest calculations) 9/15/16
Estimate of total tax liability (Force)
Balance due on extension (Force) 0
 Screen: Inc Unit: 1 Client: 62 Paradise Produce Dist., Inc.
Inc (2015)
Income and Deductions
Income
For multi-state information see View > Apportionment

Gross receipts 23,725,221

Nonaccrual experience method
Returns and allowances
US obligation interest (C Corp)
Other interest (C Corp)
Gross rents (C Corp) (Other than on Screen Rent)
Gross royalties (C Corp) (Other than on Screen Rent)
Other income (Other than farm, farm rental, pass-through, or Section 108(i) income) 217
State tax refunds
Other income from recapture: Section 179 Section 280F(b)(2)
Deduction allowable in prior years
Recomputed depreciation

Deductions
For multi-state information see View > Apportionment

Officer's compensation from accounting product 379,000

Officer's compensation (S Corp) (Gross wages before employment credit reduction) 379,000
Compensation claimed elsewhere on return
Disallowance of deduction for employee compensation in excess of limitation
Salaries and wages (Gross wages before employment credit reduction) 665,493
Repairs and maintenance
Bad debts
Rents 22,592
Lease inclusion amount
Taxes and licenses (Gross taxes before Form 8846 tips credit reduction) 41,444
Interest (Foreign corporations see Screen IntDed)
Contributions (C Corp) (Contribution carryovers see Screen NOL )
Depletion - tax:
Oil and gas (C Corp/Force)
Other than oil and gas
Advertising 1,000
Pension and profit-sharing contribution paid 24,682
Pension and profit-sharing contribution accrued
Employee benefits (Gross benefits before Form 8941 health insurance credit reduction)
Other deductions (Other than amortization and pass-through deductions) 68,217
Meals and entertainment (100% subject to 50% limit) 4,287
Meals (100% subject to Department of Transportation 80% limit)

Section 277 Deductions (C Corp)

Member related income

Member related deductions
Prior year excess deductions under Section 277
62 Paradise Produce Dist., Inc. 12/20/2016 7:54 AM
59-3024048 Federal Statements
FYE: 12/31/2015

Gross Receipts
Description Amount
SALES $ 23,725,221
TOTAL $ 23,725,221

Other Income
Description Amount
OTHER INCOME $ 217
TOTAL $ 217
 62 Paradise Produce Dist., Inc. 12/20/2016 7:54 AM
59-3024048 Federal Statements
FYE: 12/31/2015

Officer's Compensation

Shareholder
First Name Last Name Address City State Zip Code Pos SSN % Time% StockCompensation
(a) (a) (b) (c) (d) (f)
YES
JOEL SILVERMAN 6478 WALKERS GLEN DRIVE
LAKELAND FL 33813 P 336-52-6158 100.000
$ 379,000
TOTAL $ 379,000
62 Paradise Produce Dist., Inc. 12/20/2016 7:54 AM
59-3024048 Federal Statements
FYE: 12/31/2015

Taxes and Licenses

Description Amount
PAYROLL TAXES $ 41,444
TOTAL $ 41,444

Other Deductions
Description Amount
INSURANCE $ 22,696
DUES & SUBSCRIPTIONS 3,539
LICENSES & FEES 1,078
OFFICE EXPENSE 9,047
POSTAGE 2,450
LEGAL & ACCOUNTING 4,650
TELEPHONE 12,871
TRAVEL 1,199
UTILITIES 1,927
AUTO EXPENSE 8,760
TOTAL $ 68,217
 Screen: A Unit: 1 Client: 62 Paradise Produce Dist., Inc.
A (2015)
Cost of Goods Sold
Cost of Goods Sold

Beginning inventory (Force) (If different from Schedule L beginning of year inventory amount)
Refigured closing inventory
Purchases 18,899,796
Adjust purchases by change in inventory
Cost of labor (Gross cost of labor before employment credit reduction)
Section 263A costs
Meals and entertainment (100% subject to 50% limit)
Meals (100% subject to Department of Transportation 80% limit)
Other costs (Other than depreciation and amortization) 3,234,708
Lease inclusion amount
Per-unit retain allocations paid in: (Form 1120-C)
Qualified per-unit retain certificates
Money or other property
Nonqualified per-unit retain certificates redeemed this year (Form 1120-C)
Page 1 depreciation to Form 1125-A:
Percentage (xxx.xxxxxx)
Amount
Type of cost (1 = Additional Section 263A costs, 2 = Other costs)
Ending inventory (Force)
Method used to value inventory:
Cost method is used
Lower of cost or market method is used
Other method used
Writedown of subnormal goods
LIFO method adopted, statement in lieu of Form 970
Closing inventory computed under LIFO
Rules of Section 263A apply? (1 = Yes, 2 = No, 3 = Leave blank)
Change in determining opening or closing inventories? (1 = Yes, 2 = No, 3 = Leave blank)
Explanation of change in quantities, cost, or valuations
62 Paradise Produce Dist., Inc. 12/20/2016 7:54 AM
59-3024048 Federal Statements
FYE: 12/31/2015

Other Costs
Description Amount
FREIGHT $ 3,228,913
BUSINESS PROMOTION 5,795
TOTAL $ 3,234,708
 Screen: 4562 Unit: 1 Client: 62 Paradise Produce Dist., Inc.
4562 (2015)
Depreciation and Amortization Unit 1
Business activity REGULAR DEPRECIATION Form PAGE 1

Using general asset accounting

Election made under Regulations section 1.168(i)-6(i)
Section 179, Special Depreciation Allowance, Other and MACRS
Section 179 property limitations Threshold cost 2,000,000 Maximum amount 500,000
Section 179 property detail Cost Expense
Section 179 property detail - qualified real property
Special depreciation allowance for non-listed property
Property subject to Section 168(f)(1) election Other depreciation
MACRS deductions for non-listed property in service before the current year 0
Date Basis Period Convention Method Deduction
3 year
5 year
7 year
10 year
15 year
20 year
25 year
Residential

Non-Residential

Class Life
12 year
40 year
Listed Property - Depreciation
Supporting evidence (1 = Yes, 2 = No) Evidence is written (1 = Yes, 2 = No)
Special depreciation allowance for listed property
Cost Basis Deduct Expense
Property used more than 50% detail
Property used less than 50% detail
Listed Property - Information Regarding Vehicle Use
Total miles driven during the year: Vehicle #1 Vehicle #2 Vehicle #3 Vehicle #4 Vehicle #5
Business
Commuting
Other personal (non-commuting)
Available for off-duty personal use (1 = Yes, 2 = No)
Used primarily by > 5% owner or related person (1 = Yes, 2 = No)
Another vehicle available for personal use (1 = Yes, 2 = No)
Additional vehicles
Listed Property - Questions for Employers Providing Vehicles
Policy prohibiting personal use:
Including commuting (1 = Yes, 2 = No) Provide more than five vehicles (1 = Yes, 2 = No)
Excluding commuting (1 = Yes, 2 = No) Demonstration use (1 = Yes, 2 = No)
Treat all employees use as personal (1 = Yes, 2 = No)
Amortization
Amortization detail Cost Amortization
Amortization for property placed in service prior to current year 0
 Screen: K Unit: 1 Client: 62 Paradise Produce Dist., Inc.
K (2015)
Shareholders' Pro Rata Share Items
Income
Use Screen K1 for Schedule K-1 pass-through income items
US obligation interest
Other interest 334
Nonqualified dividends
Qualified dividends
Unrecaptured Section 1250 gain from Form 1099-DIV
Other income (loss) (Other than casualty or theft gains (losses), Subpart F income, and business and passive sales)
Other portfolio income (loss)
Mining exploration costs recapture

Deductions
Use Screen K1-2 for Schedule K-1 pass-through deduction items
Charitable contributions
Noncash charitable contributions not requiring a Form 8283
Investment interest expense
Type of Section 59(e)(2) expenditures (Force)
Total Section 59(e)(2) expenditures (Force)
Other deductions (Other than passive income tax and casualty or theft ordinary losses)
Portfolio deductions subject to 2% floor
Other portfolio deductions
Preproductive period expenses
Commercial revitalization deductions
Reforestation expense deduction
Penalty on early withdrawal
Shareholder health insurance shown on Schedules K and K-1 ( View > Shareholder Information )

Credits
Use Screen K1-3 for Schedule K-1 pass-through credit items
Other rental real estate credits
Other rental credits
Undistributed capital gains credit
Backup withholding
Other credits

Foreign Transactions
See Screen KFrgn for additional foreign transaction information
Use Screen K1-4 for Schedule K-1 pass-through gross income from all sources

Gross income from all sources

Alternative Minimum Tax Items

Use Screen K1-4 for Schedule K-1 pass-through AMT items
Post-1986 depreciation adjustment
Adjusted gain (loss) (Force)
Depletion (other than oil and gas)
Oil, gas, and geothermal properties - gross income (Force)
Oil, gas, and geothermal properties - deductions (Force)
Other AMT items
62 Paradise Produce Dist., Inc. 12/20/2016 7:54 AM
59-3024048 Federal Statements
FYE: 12/31/2015

Other Interest
Description Amount
INTEREST INCOME $ 334
TOTAL $ 334
62 Paradise Produce Dist., Inc. 12/20/2016 7:54 AM
59-3024048 Federal Statements
FYE: 12/31/2015

Charitable Contributions

50% 30%
Description Cash Cash Total
CONTRIBUTIONS $ 2,928 $ $ 2,928
TOTAL $ 2,928 $ 0 $ 2,928
 Screen: KSep Unit: 1 Client: 62 Paradise Produce Dist., Inc.
KSep (2015)
Shareholders' Separately Stated Items
Section A
Basis
Transfer gain (loss) on disposal of Section 179 assets to shareholder basis worksheet X
Investment expenses
Recapture of low-income housing credits (other)
Recapture of other credits
Look-back interest, income forecast method
453(l)(3) interest on installment sales
453A(c) interest on installment sales
Section 1260(b) information
Interest allocable to production expenditures
CCF nonqualified withdrawal
Section 1411 net investment income
Gross farm, fishing income

Section B

Description Amount Loc Basis

 Screen: L Unit: 1 Client: 62 Paradise Produce Dist., Inc.
L (2015)
Balance Sheet
Assets
For multi-state information see View > Apportionment

Complete Schedule L when not required

If field not available, global option in Setup > 1120 Corporation > Federal > Other Return Options Return Presentation tab is selected

Beginning of Year End of Year

Cash 713,411 817,225

Trade notes and accounts receivable 1,357,086 1,432,714
Less allowance for bad debts
Inventories
US government obligations
Tax-exempt securities
Other current assets
Prepaid federal income tax
Prepaid state tax
Prepaid city tax
Loans to shareholders
Mortgage and real estate loans End of Year Amounts
from Asset Module
Other investments
Buildings and other depreciable assets 31,670 31,670 31,670
Less accumulated depreciation 31,670 31,670 31,670
Depletable assets
Less accumulated depletion
Land (net of any amortization)
Intangible assets 550 550
Less accumulated amortization 550 550
Assets held in trust (Form 1120-F only)
Other assets 565 565
62 Paradise Produce Dist., Inc. 12/20/2016 7:54 AM
59-3024048 Federal Statements
FYE: 12/31/2015

Cash
Beginning End
Description of Year of Year
CASH CHECKING $ 235,808 $ 339,288
CASH- PAYROLL BANK OF AMERICA 1,013 1,013
CASH- SAVINGS BANK OF AMERICA 476,590 476,924
TOTAL $ 713,411 $ 817,225

Trade Notes and Accounts Receivable

Beginning End
Description of Year of Year
ACCOUNTS RECEIVABLE $ 1,357,086 $ 1,432,714
TOTAL $ 1,357,086 $ 1,432,714

Buildings and Other Depreciable Assets

Beginning End
Description of Year of Year
FURNITURE & FIXTURES $ 23,888 $ 23,888
SOFTWARE 7,782 7,782
TOTAL $ 31,670 $ 31,670

Accumulated Depreciation
Beginning End
Description of Year of Year
ACCUMULATED DEPRECIATION$ 31,670 $ 31,670
TOTAL $ 31,670 $ 31,670

Intangible Assets
Beginning End
Description of Year of Year
ORGANIZATION COSTS $ 550 $ 550
TOTAL $ 550 $ 550
62 Paradise Produce Dist., Inc. 12/20/2016 7:54 AM
59-3024048 Federal Statements
FYE: 12/31/2015

Accumulated Amortization
Beginning End
Description of Year of Year
ACCUMULATED AMORTIZATION$ 550 $ 550
TOTAL $ 550 $ 550

Other Assets

Beginning End 1120-F

Description of Year of Year Type
REFUNDABLE DEPOSITS $ 565 $ 565
TOTAL $ 565 $ 565
 Screen: L-2 Unit: 1 Client: 62 Paradise Produce Dist., Inc.
L-2 (2015)
Balance Sheet, Page 2
Liabilities and Stockholder Equity
Beginning of Year End of Year

Accounts payable 1,236,086 1,070,696

Mortgage, notes, bond payable less than 1 year
Insurance liabilities (Form 1120-PC only)
Other current liabilities
Federal income tax payable
State tax payable
City tax payable
Loans from shareholders 5,000
Mortgage, notes, bond payable 1 year or more
Liabilities held in trust (Form 1120-F only)
Other liabilities
Capital stock: a) Preferred stock (C Corp)
b) Common stock 100 100
Additional paid-in capital
Patronage dividends allocated (Form 1120-C only)
Per-unit retains allocated (Form 1120-C only)
C Corporation Retained earnings:
Retained earnings - Appropriated
Retained earnings - Unappropriated
S Corporation Retained earnings:
Accumulated adjustments account 834,876
Other adjustments account
Undistributed taxed income
Adjustments to shareholders' equity
Less cost of treasury stock

Maximum amount for Schedule L rounding 10

62 Paradise Produce Dist., Inc. 12/20/2016 7:54 AM
59-3024048 Federal Statements
FYE: 12/31/2015

Accounts Payable
Beginning End
Description of Year of Year
ACCOUNTS PAYABLE $ 1,122,115 $ 955,205
ACCRUED EXPENSES 57,380 57,380
ACCRUED EXPENSES CURRENT 56,589 58,111
ROUNDING ADJUSTMENT 2
TOTAL $ 1,236,086 $ 1,070,696
 Screen: Ms Unit: 1 Client: 62 Paradise Produce Dist., Inc.
Ms (2015)
Income Reconciliation, Accumulated and Other Adjustments
Schedule M-1 - Reconciliation of Income (Loss)

Complete Schedule M-1 when not required

If field not available, global option in Setup > 1120 Corporation > Federal > Other Return Options Return Presentation tab is selected

Amount from
Accounting Product Force
Net income (loss) per books 386,626
Taxable income not on books
Book expenses not deducted
Expenses attributable to tax-exempt income
Fines and penalties
Officer life insurance premiums Schedule M-2 code
Income on books not on return
Tax-exempt interest income (Tax-exempt interest income from Schedule K-1 pass-through see Screen K1-4)
Cash surrender value - officer life Schedule M-2 code
Return deductions not on books
Amounts from
Book information: Asset Module Force
Depreciation - other than cost of goods sold 0
Depreciation - cost of goods sold 0
Section 179 expense 0
Amortization
Organization or start-up expense deduction
4797 gain (loss)
Depletion - oil and gas
Depletion - other than oil and gas
Carry book/tax difference to Schedule M-2 (D = Do not transfer to Schedule M-2, A = AAA, O = OAA, R = REU)
Maximum amount for Schedule M-1 rounding 10

Schedule M-2 - Analysis of Accumulated and Other Adjustments

Allow distributions to reduce AAA below zero (1 = Yes, 2 = No)

Transfer basis adjustments to REU/Timing Differences
Election to distribute accumulated E&P first
Election to forgo distribution of PTI
Total amount of deemed dividend elected under Regulation 1.1368-1(f)(3) (w/Election)
Accumulated Other Undistributed Retained Earnings
Adjustments Adjustments Previously Taxed Unappropriated/
Account Account Income Timing Differences
Balance at beginning of year 834,876
If different from Schedule L beginning of year amount

Other additions
Other reductions
Nondividend distributions 41,796
Information on property distributions
Dividend distributions paid from accumulated E&P
 Screen: 2YrSP1 Unit: 1 Client: 62 Paradise Produce Dist., Inc.
2YrSP1 (2015)
Two Year Comparison
Income
Enter amounts from prior year Form 1120S
Gross profit percentage (xxx.xxxx) 6.3075
Net receipts 24,206,328
Cost of goods sold 22,679,512
Net gain (loss) from Form 4797
Other income (loss) 232

Deductions

Compensation of officers 333,000

Salaries and wages 663,085
Repairs and maintenance
Bad debts
Rents 22,450
Taxes and licenses 45,139
Interest
Depreciation
Depletion
Advertising 1,609
Pension or profit sharing plans 22,063
Employee benefits
Other deductions 67,889

Tax and Payments

Excess net passive income tax and LIFO recapture tax

Tax from Schedule D
Additional taxes
Estimated tax and prior year overpayment credited
Tax deposited with Form 7004
Credit for federal tax paid on fuels
Refund applied for on Form 4466
Estimated tax penalty
Penalties and interest
2014 overpayment credited to 2015
 Screen: 2YrSP2 Unit: 1 Client: 62 Paradise Produce Dist., Inc.
2YrSP2 (2015)
Two Year Comparison, Page 2
Schedule K
Enter amounts from prior year Form 1120S
Ordinary business income (loss) 371,813
Net rental real estate income (loss)
Other net rental income (loss)
Interest income 497
Dividend income
Royalties
Net short-term capital gain (loss)
Net long-term capital gain (loss)
Net Section 1231 gain (loss)
Other income (loss)
Section 179 deduction
Charitable contributions 1,800
Investment interest expense
Section 59(e)(2) expenditures
Other deductions
Low-income housing credit (Section 42(j)(5))
Low-income housing credit (other)
Qualified rehabilitation expenditures-rental real estate
Other rental real estate credits
Other rental credits
Biofuel producer credit
Other credits
Total foreign gross income
Total foreign deductions
Total foreign taxes
Reduction in taxes available for credit
Post-1986 depreciation adjustment
Adjusted gain (loss)
Depletion
Oil, gas, or geothermal properties-gross income
Oil, gas, or geothermal properties-deductions
Other AMT items
Tax-exempt interest income
Other tax-exempt income
Nondeductible expenses 1,327
Distributions 1,079,550
Repayment of loans from shareholders
Investment income 497
Investment expenses
Dividend distributions paid from accumulated E&P
Income (loss) 370,510
 Screen: 2YrSP3 Unit: 1 Client: 62 Paradise Produce Dist., Inc.
2YrSP3 (2015)
Two Year Comparison, Page 3
Schedule L
Enter amounts from prior year Form 1120S

Beginning assets 2,480,768

Beginning liabilities and equity 2,480,768
Ending assets 2,071,062
Ending liabilities and equity 2,071,062

Schedule M-1

Net income (loss) per books 369,183

Taxable income not on books
Book expenses not deducted 1,327
Income on books not on return
Return deductions not on books
Income (loss) per return 370,510

Schedule M-2
Accumulated Other Undistributed
Adjustments Adjustments Previously Taxed
Account Account Income

Balance at beginning of year 1,545,243

Ordinary income (loss) from page 1, line 21 371,813
Other additions 497
Other reductions 3,127
Distributions other than dividends 1,079,550
Balance at end of year 834,876

Schedule M-3

Total income (loss) items:

Income (loss) per income statement
Temporary difference
Permanent difference
Total expense or deduction items:
Expense per income statement
Temporary difference
Permanent difference
Other items with no differences:
Income (loss) per income statement
 Screen: HistoryS Unit: 1 Client: 62 Paradise Produce Dist., Inc.
HistoryS (2015)
Tax Return History
Ordinary Income and Deductions

2011 2012 2013 2014

Net receipts 19,816,194 19,559,662 20,263,715 24,206,328
Cost of goods sold 18,477,044 18,262,737 18,974,323 22,679,512
Other income (loss) 41 57,823 232
Officer compensation 308,000 313,000 318,000 333,000
Salaries and wages 583,453 539,394 571,049 663,085
Bad debts
Rents 22,455 22,483 22,431 22,450
Taxes and licenses 39,366 38,890 40,020 45,139
Interest
Depreciation
Depletion (other than oil and gas)
Pension or profit sharing 29,680 19,738 20,221 22,063
Employee benefits
Other deductions 78,926 84,344 55,641 69,498

Schedule K Items

Rental real estate income (loss)

Other rental income (loss)
Interest income 3,241 1,800 1,502 497
Dividend income
Royalties
Total capital gain (loss)
Section 1231 gain (loss)
Other income (loss)
Section 179 deduction 8,412
Charitable contributions 1,290 2,193 5,850 1,800
Investment interest expense
Section 59(e)(2) expenditures
Other deductions
DPAD included in other deductions
Total foreign taxes
Distributions 363,173 109,520 118,054 1,079,550
Dividend distributions
Taxable income (loss) (Force)

Ending Balance Sheet and Equity

Total assets 2,287,995 2,648,195 2,480,768 2,071,062

Total liabilities 1,098,495 1,299,044 935,425 1,236,086
Book income (loss) 277,862 269,171 314,246 369,183
Accumulated adjustment account 1,189,400 1,349,051 1,545,243 834,876
Retained earnings unappropriated
 Screen: TPWS1 Unit: 1 Client: 62 Paradise Produce Dist., Inc.
TPWS1 (2015)
Tax Projection
Income
Next year items that will not default to current year are marked with an asterisk (*)
Print Tax Projection Worksheet X
Net receipts
Cost of good sold
Net gain (loss) from Form 4797 *
Other income

Deductions

Officer compensation
Salaries and wages
Repairs and maintenance
Bad debts
Rents
Taxes and licenses
Interest
Depreciation
Depletion
Advertising
Pension or profit-sharing plans
Employee benefits
Other deductions

Tax and Payments

Passive tax and LIFO recapture *

Tax from Schedule D *
Additional taxes *
Estimates and other payments
Credit for tax paid on fuels
 62 Paradise Produce Dist., Inc. 12/20/2016 7:54 AM
59-3024048 Federal Asset Report
FYE: 12/31/2015 Form 1120S, Page 1

Date Bus Sec Basis

Asset Description In Service Cost % 179 Bonus for Depr Per Conv Meth Prior Current

Prior MACRS:
3 DESK 1/16/95 279 279 5 HY 200DB 279 0
4 FURNITURE 1/19/95 308 308 5 HY 200DB 308 0
8 OFFICE FURNITURE 10/01/90 555 555 7 HY 200DB 555 0
9 OFFICE FURNITURE 10/01/90 84 84 7 HY 200DB 84 0
10 OFFICE FURNITURE 3/01/91 220 220 7 HY 200DB 220 0
15 DESK 1/29/97 249 249 7 HY 200DB 249 0
23 TWO DESKS 7/01/99 700 X 0 7 HY 200DB 700 0
24 PRODUCE SOFTWARE 7/09/99 750 X 0 5 HY 200DB 750 0
25 BORING PRINTER 9/10/00 570 X 0 5 HY 200DB 570 0
26 DESKS 10/01/00 881 X 0 7 HY 200DB 881 0
27 OFFICE FURNITURE 2/04/01 759 X 0 7 HY 200DB 759 0
28 COMPUTER NETWORK 10/30/03 2,691 X X 0 5 HY 200DB 2,691 0
29 COMPUTER 10/28/03 975 X X 0 5 HY 200DB 975 0
30 THINKCENTER TOWER/LCD 9/30/05 4,811 X 0 5 HY 200DB 4,811 0
32 COPIER 6/01/05 350 X 0 5 HY 200DB 350 0
33 PRINTER 7/01/05 257 X 0 5 HY 200DB 257 0
35 MISC COMPUTER EQUIP 11/15/05 583 X 0 5 HY 200DB 583 0
36 OFFICE EQUIPMENT 2/02/06 1,133 X 0 5 HY 200DB 1,133 0
37 Office Chair - Jim 8/09/07 416 X 0 7 HY 200DB 416 0
38 Office Chair - Joel 8/20/07 416 X 0 7 HY 200DB 416 0
39 2 Phones 3/08/07 200 X 0 7 HY 200DB 200 0
41 Sharp Calculator 2/01/07 59 X 0 5 HY 200DB 59 0
42 Phone - Don Hunt 3/20/08 200 X X 0 5 HY 200DB 200 0
45 Fax Machine 9/02/08 225 X X 0 7 HY 200DB 225 0
46 Refrigerator 9/04/08 150 X X 0 5 HY 200DB 150 0
47 Monitor - Ellens 10/06/08 214 X X 0 5 HY 200DB 214 0
50 Desktop Computer 4/15/12 630 X X 0 5 HY 200DB 630 0
18,665 1,695 18,665 0

Other Depreciation:
16 TELCO PHONES 2/13/98 1,525 X 0 5 MO200DB 1,525 0
17 ADVANCE COMM PHONES 2/17/98 2,226 X 0 5 MO200DB 2,226 0
18 ADVANCE COMM PHONES 3/04/98 1,060 X 0 5 MO200DB 1,060 0
44 Anti virus Software 6/11/08 252 X X 0 3 MOAmort 252 0
48 Office Equipment 7/31/08 160 X 0 5 MO S/L 160 0
49 TrueShot Accounting Software 4/15/12 7,782 X X 0 3 MOAmort 7,782 0
Total Other Depreciation 13,005 0 13,005 0

Total ACRS and Other Depreciation 13,005 0 13,005 0

Grand Totals 31,670 1,695 31,670 0

Less: Dispositions and Transfers 0 0 0 0
Less: Start-up/Org Expense 0 0 0 0
Net Grand Totals 31,670 1,695 31,670 0