Net Income (Loss) Reconciliation for Foreign Corporations With Reportable Assets of $10 Million or More. This form is used with any foreign corporation that reports on Schedule L, line 17 of Form 1120-F, total assets at the end of the corporation's tax year that equal or exceed $10 million. The form is used in lieu of Schedule M-1. This form determines the net income or loss of the non-consolidated foreign corporation.