WQP Company Generated $1,814,700 Ordinary Income from the Sale of Inventory

Essay

WQP Company generated $1,814,700 ordinary income from the sale of inventory to its customers.It also sold three noninventory assets during the year.Compute WQP's taxable income assuming that:
a.The first sale resulted in a $10,400 ordinary gain,the second sale resulted in a $23,900 capital loss,and the third sale resulted in a $44,000 capital gain.
b.The first sale resulted in a $79,100 capital loss,the second sale resulted in a $35,200 ordinary loss,and the third sale resulted in a $16,000 capital gain.