Wisconsin Tool Company Wisconsin Tool Company (WTC) is a business located in Madison, WI that manufacturers tool and die equipment. WTC executed three sales in Year 23.

See Sale Agreements in the Resources tab. WTC tax information reflects the following:

Asset	Original cost	Depreciation taken
Land	\( \$ \) 750,000)	N/A
Machinery	\( \$ \) 500,000)	\( \$ \) 100,000)
Inventory	\( \$ \) 100,000)	N/A

Assume that the interest rate provided in the installment agreement is at least equal to the rate required by the applicable federal rate rules. For each sale agreement, you will determine the realized gain/loss on the sale, the gross profit percentage, and the amount to be reported as income/loss in Year 23.

Go to Wiley's online learning platform to complete the Task-Based Simulation.