Given Below Are Mario's Capital Gains and Losses for Two

Given below are Mario's capital gains and losses for two consecutive years.What is the effect of the capital gains and losses on Mario's taxable income for each year?
$$\begin{array} { l r c } & \begin{array} { c } \text { First } \\\underline { \text { Year }}\end{array} & \begin{array} { r } \text { Second } \\\underline { \text { Year }}\end{array} \\\text { Short-term capital gain } & \$ 12,000 & \$ - 0 - \\\text { Long-term capital gain } & 11,000 & 16,000 \\\text { Short-term capital loss } & ( 9,000 ) & ( 2,000 ) \\\text { Long-term capital loss } & ( 23,000 ) & ( 5,000 )\end{array}$$
$\quad { \text { First } }\quad { \text { Second} }$
$\quad \underline{ \text { Year } }\quad \underline{ \text { Year } }$
a. ${ \$ ( 9,000 ) } \quad { \$ 9,000 }$
b. $\$ 3,000 \quad \$ 1,000$
c. $\$ ( 3,000 ) \quad \$ 3,000$
d. $\$ ( 3,000 ) \quad \$ ( 3,000 )$
e. $\$ ( 3,000 ) \quad \$ - 0 -$