10 Don bed 41 P Photo Tonight, a film-developing and camera-repair franchise, began business on January 1, 2022. In the process of beginning operations, it incurred the following capital expenditures: Developing equipment Furniture and fixtures Small tools (under $500) Franchise (expires in 20 years) Incorporation costs Pickup truck Leasehold Improvements (10-year lease) $ 85,000 35,000 20,000 80,000 6,000 14,000 32,000 The business was immediately successful and generated substantial profits for the years ended December 31, 2022 and 2023 In 2023, the truck was traded in for a larger unit costing $ 20,100. A value of $7,000 was assigned to the old truck when it was traded in In 2024, the owner was forced to leave the business due to illness. As a result, the assets were valued and sold on December 31 2024, for the following values Developing equipm Furniture and fixtures Sell toale Franchise Incorporation costs Pickup truck Leasehold Improve $65,000 15,000 12,000 04,000 15,000 15,000 40,000 Required Complete the table below to calculate the effect of all these transactions on net income for tax purposes for the 2022, 2023, and 2024 taxation years. Assume none of the assets are designated immediate expensing property (Use a minus sign (-) when entering numbers that reduce UCC) Rate 13 53 B Furniture 10 Truck 12 Small Tools 14 Franchise 14.1 Leasehold Manufacturing Incorporation GoodWa Improvements Equipment costs Increase () Net income 1 Goodwill Required: 40,000 Complete the table below to calculate the effect of all these transactions on net income for tax purposes for the 2022, 2023, and 2024 taxation years. Assume none of the assets are designated immediate expensing property (Use a minus sign (-) when entering numbers that reduce UCC.) 10 points Swoped Rate +1 Seferences 2022 Purchase CCA UCC 2023 Purchase Disposal CCA UCC 2024 10 12 Furniture Truck Small Tools 14 Franchise 13 Leasehold Improvements 53 14.1 Manufacturing Incorporation Equipment GoodWill costs Increase (Decrease) on Net income Disposal Recapture (Terminal Lose Ending UCC balance Capital Gains Taxable Capital gains