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 $ $85,000$

Furniture and fixtures $35,000$

Small tools $($under $$500)20,000$

Franchise $($expires in $20$ years$)80,000$

Incorporation costs $6,000$

Pickup truck $14,000$

Leasehold improvements $(10-$year lease$)32,000$

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 $ $20,100.$ 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 $ $65,000$

Furniture and fixtures $15,000$

Small tools $12,000$

Franchise $84,000$

Incorporation costs $0$

Pickup truck $15,000$

Leasehold improvements $15,000$

Goodwill: $40,000$

Required:

Complete the attached table 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.$)$