Higgins Corporation realized the following capital gains and losses during 20X6: Short-term capital gain from the sale of land held for investment - $10,000 Short-term capital loss from the sale of common stock - (18,000) Long-term capital gain from the sale of corporate bonds - 6,000 Long-term capital loss from the sale of common stock - (4,000) Determine the effects of these transactions. Assume that Higgins Corporation had a net long-term capital gain of $1,000 in 20X3, a net long-term capital gain of $1,500 in 20X4, and a net short-term capital gain of $2,500 in 20X5