Question - The following transactions occurred during the year for XYZ Corporation:
(a) During the year, trading securities were purchased for $250,000.
(b) During the year, securities available for sale were purchased for $80,000.
(c) During the year, trading securities that are carried on the balance sheet at their fair value of $125,000 were sold for $125,000 cash.
(d) At the end of the year, the trading securities portfolio has an aggregate market value of $142,000 and an aggregate cost of $150,000.
(e) At the end of the year the securities available for sale portfolio has an aggregate market value of $95,000.
Question: What is the total effect on Net Income?