The assignment is to complete the M-1 schedule of a tax return for MMI, a manufacturing company. The company has various assets and expenses that need to be accounted for in the tax return. The assignment includes calculating depreciation using the MACRS class life method, as well as goodwill amortization over 25 years. Additionally, the assignment requires completing Form 1120 pages 1-5, Form 1125-A, Form 4562, Form 4797, Schedule D, and Form 8903. The goal is to tie out the deferred taxes, which are calculated using a 35% tax rate and assuming no state income taxes.