Phil and Susan Hammond are married taxpayers filing a joint return. The couple have two dependent children. Susan Hammond has wages of $34,000 in 2019. Phil does not work due to a disability, but he is a buyer and seller of stocks. He generally buys and holds for long-term gain, but occasionally gets in and out of a stock quickly. The couple's 2019 stock transactions are detailed below. In addition, they have $2,300 of qualifying dividends. Item Date Acquired Date Sold Cost Sales Price
Blue stock (10 shares) 11/10/18 03/12/19 $3,000 $6,000
Purple stock (100 shares) 12/13/17 05/23/19 36,000 32,000
Beige stock (50 shares) 12/14/14 07/14/19 13,000 14,500
Red stock (100 shares) 06/29/18 05/18/19 26,000 27,000
Black stock (100 shares) 05/15/18 10/18/19 67,000 67,800
Gray stock (100 shares) 04/12/17 10/18/19 89,000 88,200

Required:
a. Determine the nature and amount of the gain or loss for each of the stock transactions.
b. Phil and Susan have a net short-term capital of $ and a net long-term capital of $. Consequently, there is an overall net of $.