1) An economy has two firms. Firm A produces wheat and firm B produces bread. In a given year, produces 50 bushels of wheat, sells 20 bushels to firm B at $3, exports 25 bushels at the same price to France, and stores 5 bushels as inventory. Firm A pays $50 in wages to consumers. Firm B produces 50 loaves of bread and sells them to consumer for $2 per loaf. Firm B pays $20 in wages. In addition, consumers import and consume 15 loaves from France paying $1 per loaf.

a) Calculate GDP for the year using the product approach.

b) Calculate GDP for the year using the expenditure approach.

c) Calculate GDP for the year using the income approach.

d) Assume that the owners of Firm B are French and repatriate all of Firm B's profits. What is the current account balance? What is the financial account balance?

Please work out thoroughly with connectedness explaining every detail.