Problem 6-5 Photo Tonight - Multiple classes 8,000 Photo Tonight, a film developing and camera tepalt franchise, began business on January 1, 2020 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 Class 14 Franchise (expires in 20 years) 88,000 Incorporation costs Pickup truck 18.000 Class 13 Leasehold improvements (10 year lease) 36,000 The business was immediately successful and generated substantial profits for the years onded December 31, 2020 and 2021 In 2021, the truck was traded in for a larger unit costing $ 20.300. A value of $ 2.000 was assigned to the old truck whon it was traded in In 2022, the owner was forced to leave the business due to ness. As a result, the assets wore valued and sold on December 31 2022, for the following values Developing equipment $ 75,000 Furniture and fixtures 15,000 Small tools 16,000 Franchise 90,000 Incorporation costs Pickup truck 15,000 Leasehold improvements 15,000 Goodwill 20,000 HO Required: Complete the table below to calculate the effect of all these transactions on net income for tax purposes for the 2020, 2021, and 2022 laxation years (Use a minus sign (-) when entering numbers that reduce UCC) Rate 21% 30% 100% Straighting Straight-line 50% 59 Furniture 10 Truck 12 Small Tools 14 Franchise 13 Leasehold Improvements 53 14.1 Manufacturing Incorporation Goodwill Equipment Increase (Decrease on Net income costs 5 45,000 $ 18,000 $ 30 000 s 88,000 $ 35 000 s 95.000 8,000 2020 Purchase CCA UCC 2021 Purchase Disposal CCA uoc 2022 Disposal Recapture Terminal Los) Ending UCC balance Capital Gains Taxablo Capital gains