Required information The following information applies to the questions displayed below Moab Inc. manufactures and distributes high-tech biking gadgets. It has decided to streamline some of its operations so that it will be able to be more productive and efficient. Because of this decision it has entered into several transactions during the year. (Do not round intermediate computations) a. Moab Inc. sold a machine that it used to make computerized gadgets for $27,300 cash. It originally bought the machine for $19,200 three years ago and has taken $8,000 depreciation. b. Moab Inc. held stock in ABC Corp, which had a value of $12,000 at the beginning of the year That same stock had a value of $15,230 at the end of the year C. Moab Inc. sold some of ins inventory for $7,000 cash. This inventory had a basis of $5,000 d. Moab Inc disposed of an office building with a fair market value of $75,000 for another office building with a fair market value of $55,000 and $20,000 in cash. It originally bought the office building seven years ago for $62,000 and has taken $15,000 in depreciation e. Moab Inc. sold some land held for investment for $28.000. It originally bought the land for $32,000 two years ago. t Moab Inc. sold another machine for a note payable in four annual installments of $12.000. The first payment was $32,000 and has claimed $9,000 in received in the current year. It originally bought the machine two years ago for depreciation expense against the machine. g. Moab Inc, sold stock it held for eight years for $2,750. It originally purchased the stock for $2300 h. Moab Inc. sold another machine for $7,300 It originally purchased this machine six months ago for $9.000 and has claimed $830 in depreciation expense against the asset Required: a. Determine the gain/loss realized and recognized in the current year for each of these events provided above. Also determinse b. From the recognized gainslosse whether the gain/loss recognized is 51231, capital, or ordinary recognize on its tax return. Moab Inc. also has $2.000 of nonrecaptured net 51231 losses from previous years es determined in part (0. determine the net $1231 gain/floss and the net ordinary gain/loss Moab will 8 a. Determine the gainloss realized and recognized in the current year for each of these events provided above. Also determine whether the gain/loss recognized is 51231, capital, or ordinary. b. From the recognized gains/losses determined in part (), determine the net 51231 gainvloss and the net ordinary gain/loss Moab will recognize on its tax return. Moab Inc. also has $2,000 of nonrecaptured net $1231 losses from previous years. Complete this question by entering your answers in the tabs below. Req 2 Determine the gain/loss realized and recognized in the current year for each of these events provided above. Also determine whether the gain/loss recognized is 51231, capital, or ordinary. (Loss amounts should be Indicated by a minus sign.) $1245 Ordinary 5291 Ordinary $1231 Ordinary le id Totals Req 2 > Prev 2012 Next 8 a. Determine the gain/oss realized and recognized in the current year for each of these events provided above. Also determine whether the gain oss recognized is $1231, capital, or ordinary. b. From the recognized gains/losses determined in part(0, determine the net $1231 gain/loss and the net ordinary gain/loss Moab will recognize on its tax returm. Moab Inc. also has $2,000 of nonrecaptured net 51231 losses from previous years. Complete this question by entering your answers in the tabs below Req 1 Req 2 From the recognized gains/losses determined in part (1), determine the net $1231 gain/loss and the net ordinary gain/loss Moab will recognize on its tax return. Moab Inc (Loss amounts should be indicated by a minus sign.) 1231 Neting Process $1231 gin 1231 loss Net $1231 gan Nonrecaptured 51231 losses Nel 51231 gain Ordinary Income Ordinary income Ordinary loss