A business taxpayer sold all the depreciable assets of the business, calculated the gains and losses, and would like to know the final character of those gains and losses. The taxpayer had $353,000 of adjusted gross income before considering the gains and losses from sale of the business assets. The taxpayer had unrecaptured $1231 lookback loss of $12,000. BUSINESS TAXPAYER INFORMATION FOR DEPRECIABLE ASSETS SOLD DURING TAX YEAR 2022 Asset Machine I Purchase Date Sale Date: Depreciation Taken Gain (Loss) on Sale 10/10/2020 11/11/2022 $ 323,000 $ 56,000 Machine 2 10/10/2019 11/11/2022 65,000 15,000) Machine 3 Machine 4 9/23/2018 11/11/2022 183,000 23,000 9/23/2018 11/11/2022 28,000 64,000 REQUIRED: (1) (2) What is the treatment of the gains and losses summarized in the chart above after all possible netting and reclassification has been completed? Be sure to show all supporting computations. What is the taxpayer's adjusted gross income? (Ignore the self employment tax deduction.). Show supporting computations.