Darren Adams completed the following property transactions during the year. Determine the proper gain or loss on each transaction and insert it in the proper column. Finally determine how all of these would net on the income tax return for the year. (Note: Darren is an individual taxpayer who uses the equipment in his sole proprietorship business unless otherwise state. The tax year is 2019.) a) Sale of a piece of computer lathe equipment for $45,000. The equipment was purchased in 2015 for $86,000 and depreciation of $46,000 had been taken. It was used in his business. b) Stock in a privately-held corporation for purchase as an investment in 2017 for $26,000 and sold for $14,000 in 2019. c) Darren has a collection of personal use tools which he bought for $17,000. He sold them at an auction for a total for $14,000. He bought them between 2015 and 2018. d) Like-kind exchange on a piece of land which Darren bought in 2010 for $44,000. He received investment land worth $80,000 and paid boot of $72,000. e) Sale of investment land for $120,000 and a truck with FMV of $52,000. At the time of the sale, Darren owed $10,000 on the land, a debt which the buyer assumed. Darren bought the land in 2011 for $178,000 in cash. f) Sale of a drill press equipment for $81,000. The equipment was purchased in 2015 for $75,000 and depreciation of $4,000 has been taken. It was used in his business. g) Sold a personal truck purchased in 2017 for $15,000. Received another truck worth $20,000and $5,000 in cash. h) In 2016, Darren purchased land he used for a business parking lot for $116,000. In 2019, he sold it for $17,000 cash and received another piece of land worth $64,000 which he also expects to use in his business. This does not qualify as a like-kind exchange. i) Sale of chemical analysis equipment for $12,000, which had been purchased in 2010 for $36,000 and depreciation of $14,000 and been taken on it. It was used in his business. Darren Adams completed various property transactions during the year of 2019. Determine the proper gain or loss) on each transaction and insert it in the proper column. Finally, determine how all these would net on the income tax return for the year. (NOTE: Darren is an individual taxpayer who uses the equipment in his sole proprietorship business, unless the facts say otherwise.) (Be sure to enter ALLmhers clearly in the columns and total them carefully (Please show all your calculations in order to get partial credit ) Ordinary Sec. 1231 LT Capital Nonrecog. inc (loss) gain (lossgain (loss) gain (los) a. Computer lathe equipment (AR) (AB) (GAIN/LOSS) b. Stock in a privately-held corporation (AR) (AB) (GAIN/LOSS) C. Antique tools (AR) (AB) (GAIN/LOSS) d. LKE of Investment Land (AR) (AB) (GAIN/LOSS) e. Sale of Investment land (AR) (AB) (GAIN/LOSS) . Drill press equipment (AR) (AB) (GAIN/LOSS) 9. Trade-in of a truck (AR) (AB) (GAIN/LOSS) h. Business land (AR) (AB) (GAIN/LOSS) 1. Chemical analysis equipment (AR) (AB) (GAIN/LOSS) Total the columns and net as appropriate. Fill in the answers below: Column Totals On the tax return; How much ordinary gain will be recognized? How much ordinary loss will be recognized? How much long-term capital gain will be recognized? How much long-term capital loss will be recognized