Knoxville Musical Sales, Inc. is located at 5500 Kingston Pike, Knoxville, TN 37919. The corporation uses the calendar year and accrual basis for both book and tax purposes. It is engaged in the sale of musical instruments with an employer identification number (EIN) of 75-2012010. The company incorporated on December 31, 2006, and began business on January 2, 2007. Table C:3-4 contains balance sheet information at January 1, 2010, and December 31, 2010. Table C:3-5 presents an income statement for 2010. These schedules are presented on a book basis. Other information follows the tables
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