Siena Industries (a sole proprietorship) sold three 1231 assets on October 10 during 2022. Data on these property dispositions are as follows: Depreciation Asset Cost Acquired Sold For Rack $100,000 10/10/18 $62,000 $86,000 Forklift 35,000 10/16/19 23,000 4,000 Bin 87,000 03/12/21 34,000 60,000 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 Forklift Bin 51231 less Ordinary income 7,000 7,000 Balance of Gain or Loss 0 Siena has $ of ordinary income due to 1245 recapture and $ of 1231 loss