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Photo Tonight, a film - developing and camera - repair franchise, began business on January 1 , 2 0 2 3 . In the process

Photo Tonight, a film-developing and camera-repair franchise, began business on January 1,2023. In the process of beginning operations, it incurred the following capital expenditures.
Developing equipment $ 95,000
Furniture and fixtures 45,000
Small tools (under $500)30,000
Franchise (expires in 20 years)88,000
Incorporation costs 8,000
Pickup truck 18,000
Leasehold improvements (10-year lease)36,000
The business was immediately successful and generated substantial profits for the years ended December 31,2023 and 2024.
In 2024, the truck was traded in for a larger unit costing $ 20,300. A value of $ 7,000 was assigned to the old truck when it was traded in.
In 2025, the owner was forced to leave the business due to illness. As a result, the assets were valued and sold on December 31,2025, for the following values.
Developing equipment $ 75,000
Furniture and fixtures 15,000
Small tools 16,000
Franchise 90,000
Incorporation costs 0
Pickup truck 15,000
Leasehold improvements 15,000
Goodwill 20,000
Required:Required:
Complete the table below to calculate the effect of all these transactions on net income for tax purposes for the 2023,2024, and
2025 taxation years. Assume none of the assets are designated immediate expensing property. (Use a minus sign (-) when entering
numbers that reduce UCC.)
Complete the table below to calculate the effect of all these transactions on net income for tax purposes for the 2023,2024, and 2025 taxation years. Assume none of the assets are designated immediate expensing property. (Use a minus sign (-) when entering numbers that reduce UCC.)
Please show me the calcaulations on the table each year kindly
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