For a consolidated group of corporations, Schedule M-3 Part 1 reconciles worldwide financial statement net income to the financial statement net income of those corporations permitted to be included in the U.S. consolidated tax return group.

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This statement is true. Schedule M-3 Part 1 compares the worldwide financial statement net income to the financial statement net income of the corporations that are included in the U.S. consolidated tax return group.

For a Consolidated Group of Corporations, Schedule M-3 Part 1