Suppose that both a call option and a put option have been written on a stock with an exercise price of $175. The current stock price is $174, and the call and put premiums are $5.85 and $7.15, respectively.

Calculate the profit to the long and short positions for both the put and the call with an expiration day stock price of $185 and with a price at expiration of $165.

please show work and provide explanation