Leonard has the following transactions.Leonard purchased 1,500 shares of stock on January 15, 2008 at $10 per share.Leonard purchased an additional 500 shares of stock in the same company on June 15, 2008 at $15 per share.Leonard was given 250 shares of stock in the same company by his grandmother on December 15, 2008. His grandmother passed away on December 30, 2008, leaving all of her remaining assets to Leonard and his brother Sheldon.They each received 2,000 shares of stock in the same company.The value of the company stock on December 15 was $25 per share and the value on December 30 was $30 per share.Their grandmother was the founder of the company and paid $1 per share for all of her shares in the company.Leonard did not want to run the company and so began selling his shares in January 2009.On January 22, 2009, Leonard sold 2,000 shares for $35 per share. On December 15, 2009 Leonard sold an additional 2,000 shares for $5 per share (after Sheldon had run the business into the ground).

Required: Calculate the each gain or loss on the above transactions and determine the net total includible in Leonards taxable income for 2009. Also calculate how many shares, if any Leonard has left and what is his basis in those shares as of the end of 2009.