Over the last 12 months, Mike acquired the following assets:

an antique chair for $2,000;

an antique vase for $3,000;

a painting for $9,000;

a home sound system for $5,000; and

shares in a listed company for $5,000.

Last week, he sold these assets as follows:

the antique chair for $3,000;

the antique vase for $1,000;

the painting for $1,000;

the sound system for $4,000; and

the shares for $10,000.

Calculate Mikes net capital gain or net capital loss for the year. Assume all the

transactions happened in the current income year. Explain Everything in details