You own a pet supply business. Last year, you sold $42,000 in dog food and $53,000 in cat food. Returns totaled $5,000. The cost of goods sold on the dog food was $13,000 and the cost of goods sold on the cat food was $14,000. Operating expenses for the business were $13,000 for salaries, $4,500 for rent, $1,200 for insurance, $1,000 for utilities, $900 for advertising and $600 for miscellaneous expense. Taxes were $10,500. Compute the following: Net income after taxes=
Net-profit-on-skes=​

The following pertains to smoke, inc.’s investment in debt securities: on december 31, year 3, smoke reclassified a security acquired during the year for $70,000. it had a $50,000 fair value when it was reclassified from trading to available-for-sale. an available-for-sale security costing $75,000, written down to $30,000 in year 2 because of an other-than-temporary impairment of fair value, had a $60,000 fair value on december 31, year 3. what is the net effect of the above items on smoke’s net income for the year ended december 31, year 3?