Copper Industries (a sole proprietorship) sold three 5 1231 assets during 2023. Data on these property dispositions are as follows: Accumulated Asset Rack Cost Acquired Depreciation Sold For Sold On $110,000 10/10/20 $70,000 $55,000 10/10/23 Forklift Bin 45,000 10/16/19 97,000 03/12/22 21,000 31,000 15,000 10/10/23 60,000 10/10/23 If an amount is zero, enter "0". a. Determine the amount and the character of the recognized gain or loss from the disposition of each asset. Character of Gain or Loss Total Amount of Gain or Loss Amount of 5 1245 Recapture Balance of Gain or Loss Asset Rack Ordinary income. Forklift 1231 loss Bin 51231 loss 70,600 X 49,420 X x 49,420 x Copper has S X of ordinary income due to 5 1245 recapture and $ 0x of 5 1231 loss