Siena Industries (a sole proprietorship) sold three 1231 assets during 2022. Data on these property dispositions are as follows:

Asset	Cost	Acquired	Accumulated Depreciation		Sold For	Sold On
Rack	$100,000	10/10/18	$62,000		$86,000	10/10/22
Forklift	35,000	10/16/19	23,000		4,000	10/10/22
Bin	87,000	03/12/21	34,000		60,000	10/10/22

If an amount is zero, enter "0".

Question Content Area

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	Balance of Gain or Loss
Rack	Ordinary income	$fill in the blank	$fill in the blank	$fill in the blank
Forklift	1231 loss	$fill in the blank	$fill in the blank	$fill in the blank
Bin	Ordinary income	$fill in the blank	$fill in the blank	$fill in the blank

Siena has $fill in the blank of ordinary income due to 1245 recapture and $fill in the blank of 1231

loss.

b. Assuming that Siena has no nonrecaptured net 1231 losses from prior years, analyze these transactions and determine the amount (if any) that will be treated as a long-term capital gain. $fill in the blank