This is an example of a completed Form 1120-S (Entity portion of the return and Page 4, Schedule L, attached) with the Initial Return Code 2 edited in red to the right of Box E.Top left corner of Form 1120-S reads: DRAFTAt the top of Form 1120-S, to the left of the preprinted tax year of the return is a black circle with a white 2 inside. This will be explained in the text box information below.Box A shows 8/09/2019 for the effective date of the S electionBox B shows 238300 for the Business Activity CodeBox D shows 00-4171976 for the Employer Identification Number (EIN)Box E shows 8/09/2019 for the date incorporated. There is a 2 edited in red to the right of Box E. There is a black circle with a white 1 inside. Above the red 2 is a black circle with a 4 inside.Box F shows $8,485 for Total AssetsAspen Carpet Inc. is shown on the name line and ASPE is underlined in red as the name control2875 Tupelo St is shown for the street address linePhoenix, AZ 85026 is shown for the city, state, and ZIP code lineLine I shows 1 for the Number of Shareholders.A text box located to the center of the Form 1120-S (below the Entity) has an arrow on the top right side of the box pointed to Box E, where there is a black circle with a white 1 inside. There is another arrow on the bottom center side of the box pointed to the Schedule L column (a) and column (b), where there is a black circle with a white 3 inside. The text box reads: IF the Date Incorporated 1 (black circle with 1 inside) is within 24months of the Tax Period Ending 2 (black circle with 2 inside) (or not shown)AND the taxpayer’s beginning BalanceSheet 3 (black circle with 3 inside) is blank or zerosTHEN edit the Initial Return Code 2. 4 (black circle with 4 inside)Form 1120-S, Schedule L, Balance Sheets per Books, is attached, showing no data entered in first two columns (a and b), indicating no beginning balance.Schedule L, Line 1, column d shows 3,291Schedule L, Line 4, column d shows 5,194Schedule L, Line 10a, column c shows 28,705Schedule L, Line 10b, column c shows 23,511Schedule L, Line 15, column d shows 8,485Schedule L, Line 16, column d shows 14,229Schedule L, Line 18, column d shows 22,714Schedule L, Line 19, column d shows 8,485