Capital Gains and Losses: The corporation sold 100 shares of PDQ Corp. common stock on October 7, 2022, for $145,000. The corporation acquired the stock on December 10, 2021, for $90,000. The corporation also sold 75 shares of JSB Corp. common stock on June 17, 2022, for $110,000. The corporation acquired this stock on September 17, 2020, for $120,000. The corporation has a $15,000 capital loss carryover from 2021. These transactions were not reported to the corporation on Form 1099-B.

Fixed Assets and Depreciation: For book purposes: The corporation uses straight-line depreciation over the useful lives of assets as follows: store building, 50 years; equipment, ten years; and trucks, five years. The corporation takes a half-year's depreciation in the year of acquisition and the year of disposition and assumes no salvage value. The book financial statements in Tables C:3-3 and C:3-4 reflect these calculations. For tax purposes: All assets are MACRS property as follows: store building, 39-year nonresi-dential real property; equipment, seven-year property; and trucks, five-year property. The corporation acquired the store building for $2 million and placed it in service on January 2, 2019. The corporation acquired two pieces of equipment for $250,000 (Equipment 1) and $500,000 (Equipment 2) and placed them in service on January 2, 2019. The corpora-tion acquired the trucks for $100,000 and placed them in service on July 18, 2020. The trucks are not listed property and are not subject to the limitation on luxury automobiles

Caluclate ordinary gain and losses

as well as gains and losses on exchange of properties