Which statement best describes the introduction of an argumentative essay? The introduction acquaints readers with the topic and sets up the ideas that will be presented.
The introduction establishes the focus of the essay and tells readers what the writer’s position will be.
The introduction ties the essay together and tells readers what they have learned and should take away.
The introduction fleshes out the argument and includes counterclaims and evidence from research.

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?