List the Gain or loss and the TYPE of gain or loss (Ordinary, Sec 1231 or Capital):

a.

b.

c.

d.

e.

Mark is a real estate and financial consultant who owns and operates his own business as a sole proprietor. Mark is going to sell his business. The following information relates to his current year activities and income tax. a. Land adjacent to his office was purchased during 2015 for anticipated expansion. The expansion never happened. It cost $50,000 but was sold later in the year for $35,000. It was sold on Dec 31, 2016. b. His His manufacturing equipment is sold for $175,000. The equipment was purchased in 1994 for $200,000. Depreciation taken on the equipment was $160,000. Sold Dec 31, 2016. c. Office furniture that cost $20,000 and was fully depreciated is sold for $6,000. Bought in 2012 and sold at the end of 2016. d. Inventory was sold to the buyer. The basis was $50,000 and was sold for $65,000. e. The office building was sold for $150,000. Mark's basis was $120,000. REQUIRED: Fill in the following table by listing the amount and proper treatment of the recognized gain or loss from each of the above transactions. Identify by using the amount by each letter a-e