Siena Industries (a sole proprietorship) sold three 1231 assets during 2022. Data on these property dispositions are as follows: Accumulated Asset Cost Acquired Depreciation Sold For Sold On Rack Forklift Bin $100,000 10/10/18 35,000 10/16/19 87,000 03/12/21 $62,000 $86,000 10/10/22 23,000 34,000 4,000 10/10/22 60,000 10/10/22 If an amount is zero, enter "0". a. Determine the amount and the character of the recognized gain or loss from the disposition of each asset. Asset Character of Gain or Loss Total Amount of Gain or Loss Amount of 1245 Recapture Rack Ordinary income X Forklift 1231 loss x 0 Bin Ordinary income 7,000 7,000 x $ Balance of Gain or Loss 0 0 Siena has $ X of ordinary income due to 1245 recapture and $ X of 1231 loss .