In 2019, James and his wife, Beth, had combined income of $83,000 before their investment transactions (below) and they file a joint tax return. Investment and other transactions in 2019:

• In April of the previous year he invested $65,000 in stock for his buddys business even though James' wife was against the investment. The stock for the company qualified as Section 1244 stock and was worthless by the end 2019.
• He loaned another friend $7,000 two years ago and this friend declared bankruptcy in 2019.
• Other investments sold resulted in short-term capital gains of $4,000 and long-term capital losses of $19,000.

a. Summarize James and Beths gains and losses according to the following:

a1. Net Ordinary gain or (loss):

a2. Net short-term capital gain (loss):

a3. Net long-term capital gain (loss):

b. Show the calculation of James and Beths adjusted gross income after all of investment transactions are included.

c. If James and Beth have any unused capital losses for 2019, what can they do with them?