The Following Assets in Jack's Business Were Sold in 2014

Multiple Choice

The following assets in Jack's business were sold in 2014: $\begin{array}{lll}\text { Asset } &\text { Holding Period }&\text { Gain/(Loss) }\\\text { Office Equipment } & 6 \text { years } & \$ 1,100 \\\text { Automobile } & 8 \text { months } & (\$ 800) \\\text { ABC Stock (capital asset) } & 2 \text { years } & \$ 1,400\end{array}$ The office equipment had a zero adjusted basis and was purchased for $8,000. 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 2014 (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.