During the month of February, 2022, Jacob's Jewels sells a brooch for $428,000. The cost to the business of the brooch was $212,000, resulting in a gross profit of $216,000. The $428,000 sales price is to be paid in four equal annual instalments on December 31 in each of the 2023 through 2026 fiscal periods. Jacob's Jewels has a December 31 fiscal period year end.

Required:

1. What are the income tax consequences for each of the 2022 to 2026 fiscal periods on the business income.