During its only year of operation, a firm collected $175,000 in revenue and spent $50,000 on raw materials, labor, and utilities. the owners of the firm spent $100,000 of their own money to build the firm's factory (instead of buying bonds and earning a 10% annual rate of return), which they sold at the end of the year for $100,000. the firm's economic profit is:

The answer is: $115,000

Explanation:

Economic profit can be determined by the following formula:

economic profit = Revenues - (Explicit Costs + Implicit Costs)

where:

Economic profit = $175,000 - ($50,000 + $10,000) = $175,000 - $60,000

Economic profit = $115,000

answer: d. characteristics of guests

explanation: it is directly related to the spending characteristics of attendees who fall into each of these categories:

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.