C Corp. reports the following information for 2015:
Net income per books $600,000
Federal income tax expense 200,000
State tax expense 60,000
Net capital loss (9,000)
Tax exempt interest income 12,000
Excess charitable contributions 8,000
Tax depreciation in excess of book depreciation 22,000
Business meals and entertainment 40,000
Unappropriated retained earnigs-1/1/15 900,000
Dividends paid in 2015 350,000
Based on the above information, complete Form 1120 Schedules M-1, M-2. Present your answer using a worksheet or tax return schedule.