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 information relating to these assets is provided below. BUSINESS TAXPAYER INFORMATION RELATING TO SALE OF DEPRECIABLE BUSINESS ASSETS Asset Purchase Date Sale Date Depreciation Taken Gain (Loss) Machine 1 10/10/18 11/11/20 $ 323,000 $ 56,000 Machine 2 10/02/17 11/11/20 65,000 15.000) Machine 3 09/23/16 11/11/20 183,000 23,000 Machine 4 09/23/16 11/11/20 28.000 64,000 The taxpayer had $353,000 of adjusted gross income before considering the gains and losses from sale of the business assets. The taxpayer had an unrecaptured Section 1231 look back loss of S12.000 REQUIRED: (1) 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? Show supporting computations. Ignore the self employment tax deduction (2)