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Koil Corporation generated $727,600 ordinary income from the sale of inventory to its customers. It also sold three noninventory assets during the year. Required: Compute

Koil Corporation generated $727,600 ordinary income from the sale of inventory to its customers. It also sold three noninventory assets during the year.

Required:

  1. Compute Koil's taxable income assuming that the first sale resulted in a $54,200 capital gain, the second sale resulted in a $12,300 capital loss, and the third sale resulted in a $26,700 capital loss.
  2. Compute Koil's taxable income assuming that the first sale resulted in a $19,500 ordinary gain, the second sale resulted in a $39,750 capital gain, and the third sale resulted in a $83,600 capital loss.
  3. Compute Koil's taxable income assuming that the first sale resulted in a $17,700 capital gain, the second sale resulted in a $20,200 capital loss, and the third sale resulted in an $10,600 ordinary loss.

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