Use the following information to answer the next five questions.

Beets by Dray sold a piece of equipment and a machine during the year. Both had been used in the business for more than one year. The equipment had an original cost of $500,000 and accumulated depreciation of $350,000. The machine had an original cost of $75,000 and accumulated depreciation of $47,000. The equipment was sold for $160,000 and the machine was sold for $65,000.

Beets by Dray also sold a warehouse for $650,000 during the current year, of which $100,000 was for the land. The original cost of the warehouse was $450,000 of which $120,000 was for the land. The warehouse was depreciated using the straight-line method which resulted in total depreciation expense of $85,000.

Beets by Dray reported $65,000 in net Sec. 1231 losses on last year's tax return.

1. What is the amount and character of the gain or loss realized on the sale of the equipment

2.What is the amount and character of the gain or loss realized on the sale of the machine

3. What is the amount and character of the gain or loss realized on the sale of the land

4. What is the amount and character of the gain or loss realized on the sale of the building

5. What amount and character of gain or loss should Beets by Dray recognize this year from the above sales of business assets?