The chart below describes the $1231$ assets sold by the Bronze Company $($a sole proprietorship$)$ in $2020.$ Assume there is a $1231$ lookback loss of $$10,000$ from $2019.$

Asset

Acquired

Sold

Cost

Depreciation

Sale Price

Machine

$3/10/16$

$8/10/2020$

$$30,000$

$$19,736$

$ $5,000$

Equipment

$2/12/13$

$7/23/2020$

$70,000$

$28,838$

$90,000$

Car

$5/16/15$

$11/13/2020$

$40,000$

$40,000$

$50,000$

Furniture

$11/12/09$

$2/25/2020$

$44,000$

$44,000$

$28,000$

Compute the gain or loss from each asset disposition AND indicate the character of the gain or loss for each asset. Determine the net $1231$ gain treated as long$-$term capital gain for the year and indicate the amount of income taxed at the ordinary rate.

Asset

Gain or $($loss$)$ amount

Amount that is section $1231$

Amount that is section $1245$

Machine

Blank $1$

Blank $2$

Blank $3$

Equipment

Blank $4$

Blank $5$

Blank $6$

Car

Blank $7$

Blank $8$

Blank $9$

Furniture

Blank $10$

Blank $11$

Blank $12$

Amount taxed ordinary? Blank $13$

Amount taxed as a section $1231$ gain? Blank $14$

Blank $1$

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Blank $2$

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Blank $3$

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Blank $4$

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Blank $5$

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Blank $6$

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Blank $7$

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Blank $8$

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Blank $9$

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Blank $10$

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Blank $11$

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Blank $12$

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Blank $13$

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Blank $14$

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