15,000 Photo Tonight, a film-developing and camera-repair franchise, began business on January 1, 2021. In the process of beginning operations, it incurred the following capital expenditures: Developing equipment $ 80, eee Furniture and fixtures 30,000 Small tools (under $500) Class 14 Franchise (expires in 20 years) 75,000 Incorporation costs 5,80 Pickup truck 12,880 Class 13 Leasehold improvements (10-year lease) 30, eee The business was immediately successful and generated substantial profits for the years ended December 31, 2021 and 2022 In 2022, the truck was traded in for a larger unit costing $ 20,000. A value of $ 7,000 was assigned to the old truck when it was traded in. In 2023, the owner was forced to leave the business due to illness. As a result, the assets were valued and sold on December 31, 2023, for the following values: Developing equipment Furniture and fixtures Small tools Franchise Incorporation costs Pickup truck Leasehold improvements Goodwill $ 60,000 15, eee 10,000 88,888 -o- 15,000 15, eee 50,90 Required: Complete the table below to calculate the effect of all these transactions on net Income for tax purposes for the 2021, 2022, and 2023 taxation years. Assume Photo Tonight is not a Canadian-controlled private corporation. (Use a minus sign (-) when entering numbers that reduce UCC.) Rate 20% 30% 100% Straight-line Straight-line 50% 5% 10 Truck 12 Small Tools 14 Franchise Furniture 13 Leasehold Improvements 53 14.1 Manufacturing Incorporation Equipment costs Goodwill Increase (Decrease) on Net income 2021 $ 30,000 s 12,000 $ 15,000 $ 75.000 $ 15.000 80.000 s 5,000 Purchase CCA UCC 2022 Purchase Disposal CCA UCC 2023 Disposal Recapture (Terminal Loss) Ending UCC balance Capital Gains Taxable Capital gains $ S 0 S S s $ S O 0