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The federal government document used to report income earned by a corporation. Several types of the form exist for the various corporate structures. For example, an S Corporation must file a Form 1120S, while a C Corporation must file a Form 1120. The Form 1120 consists of four pages on which a corporation reports its gross income, in addition to all relevant deductions, such as Cost of Goods Sold, and all valid business expenses. The fourth page of the Form 1120 contains a balance sheet in which the corporation reports its ending balances of assets and liabilities.
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