The Following Assets in Jack's Business Were Sold in 2018

Multiple Choice

The following assets in Jack's business were sold in 2018: $$\begin{array} { l l l } \text { Asset } & \underline { \text { Holding Period } } & \underline { \text { Gain/(Loss) } } \\\text { Office equipment } & 6 \text { years } & \$ 1,100 \\\text { Automobile } & 8 \text { months } & ( \$ 800 ) \\\text { ABC stock (capital asset) } & 2 \text { years } & \$ 1,400\end{array}$$ Office equipment, purchased for $8,000, had a zero adjusted basis.The automobile was purchased for $2,000 and sold for $1,200.The ABC stock was purchased for $1,800 and sold for $3,200.In 2018 (the year of sale) , Jack should report what amount of net capital gain and net ordinary income?

A) $1,700 LTCG.
B) $600 LTCG and $300 ordinary gain.
C) $1,400 LTCG and $300 ordinary gain.
D) $2,500 LTCG and $800 ordinary loss.
E) None of these.