Question 1 In 2021, BB Inc., a public company, purchased and sold the following assets: Purchase price $13,250 $ 2,300 Purchases Office furniture Customer list Sales Proceeds Building (original cost =...

Extracted text: Question 1 In 2021, BB Inc., a public company, purchased and sold the following assets: Purchase price $13,250 $ 2,300 Purchases Office furniture Customer list Sales Proceeds Building (original cost = $450,000) Land (original cost = $200,000) Office furniture (original cost = $13,000) $625,000 $300,000 2$ 1,750 At the beginning of 2021, BB Inc. had the following undepreciated capital cost balances: $ 237,560 2,300 3,540 Class 1 Class 8 Class 14.1 Required: Determine the impact of BB Inc.'s purchases and sales on taxable income for 2021, including any deductible expenses. Show all calculations.