I:4-60Alice Johnson, Social Security number 222-23-3334, is a single taxpayer and is employed as a secretary by State University of Florida. She has the following items pertaining to her income tax return for the current year:• Received a $20,000 salary from her employer, who withheld $3,000 federal income tax.• Received a gift of 1,000 shares of Ace Corporation stock with a $100,000 FMV from her mother. She also received $4,000 of cash dividends from the Ace Corporation. The dividends are qualified dividends.• Received $1,000 of interest income on bonds issued by the City of Tampa.• Received a regular stock dividend (nontaxable under Sec. 305) of 50 shares of Ace Corporation stock with a $5,000 FMV.• Alice’s employer paid $2,000 of medical and health insurance premiums on her behalf.• Received $12,000 alimony from her ex-husband.• State University provided $60,000 of group term life insurance. Alice is 42 years old and is not a key employee. The table in the text is applicable.• Received a $1,000 cash award from her employer for being designated the Secretary of the Year.• Total itemized deductions are $8,000.Complete Form 1040 and accompanying schedules for Alice Johnson’s federal income tax return for the current year.