Pure Action Cycles Inc

question 30

Essay

Pure Action Cycles Inc., a bicycle manufacturer, has a net capital loss in 2014 of $64,000. It had net capital gains of $21,500 in 2013, $45,000 in 2012, $10,000 in 2011 (but suffered a net operating loss in 2011), and $8,000 of net capital gain in 2010. What is the net capital gain in 2013 after the carryback is applied?

---

Definitions:

Purple Loosestrife

An invasive plant species with tall spikes of purple flowers, often found in wetlands, affecting native habitats and biodiversity.

Native Vegetation

Plant species that are indigenous to a specific area, having developed naturally without human intervention.

Wetland Species

Plants and animals specially adapted to live in wetland ecosystems, such as swamps, marshes, and bogs.

Non-targeted Species

Organisms that are unintentionally affected by human activities or control measures aimed at other species.