In its current tax year, PRS Corporation generated $$300,000$ ordinary income from the performance of consulting services for its clients. PRS sold two

assets, recognizing a $$20,000$ gain on the first sale and a $$31,000$ loss on the second sale. Which of the following statements is false?

Multiple Choice

If the gain and loss were capital gain and loss, PRS$\text{'}$s taxable income was $$300,000.$

If the gain and loss were ordinary, PRS$\text{'}$s taxable income was $$289,000.$

If the gain was ordinary and the loss was a capital loss, PRS$\text{'}$s taxable income was $$320,000.$

If the gain was capital gain and the loss was ordinary, PRS$\text{'}$s taxable income was $$269,000.$