McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

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Identify each of White Corporation's following assets as an ordinary, capital, or §1231 asset.a.?Two years ago, White used its excess cash to purchase a piece of land as an investment.
b.?Two years ago, White purchased land and a warehouse.It uses these assets in its business.c.?Manufacturing machinery White purchased earlier this year.d.Inventory White purchased 13 months ago, but is ready to be shipped to a ?customer.e.?Office equipment White has used in its business for the past three years.f.??1,000 shares of stock in Black corporation that White purchased two years ago because it was a good investment.g.?Account receivable from a customer with terms 2/10 net 30.h.?Machinery White held for three years and then sold at a loss of $10,000.