What is the total profit Patrick made after selling his stock, before taxes and fees?

To determine the total profit that Patrick made after selling his stock, one would generally need to consider his initial investment, known as the cost basis, in comparison to the selling price of the stock. Profit is calculated as the difference between the selling price and the cost basis.

If the answer is $7,000, this suggests that Patrick sold his stock for $7,000 more than what he originally paid to acquire it. A common scenario that leads to such a conclusion could involve, for example, purchasing shares for $20,000 and later selling them for $27,000. The net result would indeed be a profit of $7,000.

It is important to account for the correct values of the initial purchase and selling prices to arrive at this profit figure. Consequently, if $7,000 accurately reflects the calculation made on the gained amount over what was spent, then it stands as the correct conclusion regarding Patrick's trading outcome before any additional costs like taxes and fees are factored in.