Correcting profit for accounting errors Steps:

• Omitted wages $9,000 mean expenses understated, so subtract$9,000 from draft profit.
• Discounts received $2,500 omitted to discounts allowed account is ambiguous; standard interpretation treats it as recorded as expense instead of income, understating profit by$5,000, so add $5,000.
• Sales returns $8,000 debited to purchases returns account has net zero effect on profit (sales overstated by$8,000, expenses overstated by $8,000).
• Net adjustment: $40,000 -$9,000 + $5,000 +$0 = $36,000.

Not enough information to reach $80,000, as error effects are ambiguous.

Final answer: Not enough information.