JUIS ILLI Will Save and submit automatically when the time expires Warnings appear when half the time, 5 minutes, 1 minute, and 30 seconds remain Multiple Attempts Not allowed. This test can only be taken once. Force Completion This test can be saved and resumed at any point until time has expired. The time will continue to run if you leave the test. Remaining Time: 1 hour, 56 minutes, 30 seconds. aterials Question Completion Status: He L Moving to another question will save this response Question 4 10 Gainesville LLC sold the following business assets during the current year: 1. machinery, $20,000 cost basis, $4,000 depreciation, proceeds $22,000; 2. automobile, $15,000 cost basis, $12,000 depreciation, proceeds $7,000; 3. equipment, $15,000 cost basis, $10,000 depreciation, proceeds $4,000, 4. computer equipment, $35,000 cost basis, $16,000 depreciation proceeds $15,000; 5. Winchester had un-recaptured $1231 losses of $5,000 in the prior 5 years A. What is the amount and character of Winchester's gains and losses on ch asset before the 1231 netting process? B. What is the total ordinary income (loss) and net 1231 gain(loss), if any? TTT Arial 3 [12pt) TEE 5. II THE O here to search