1 of 15 + Automatic Zoom MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Below are some financial data for the Do Drop In convenience store. Profit and Loss Statement Week Ending March 24, 2014 Income: Cash Sales $7,260 Expenses: Merchandise $3,160 Rent 750 Insurance 240 Licences etc 90 Tax Remittance 1,860 Advertising 200 Depreciation 600 $6,900 The owners have put $40,000 into the business and they worked a total of 80 hours during the week. Savings accounts are currently paying 5.2% interest and the going wage rate is $8 per hour. 1) Refer to the information above to answer this question. According to an accountant, what is the week's profit for the Do Drop In? A) $360. B) $230. C) -$230. D) $450. E) $960. 2) Refer to the information above to answer this question. What are the week's total explicit costs for the Do Drop In? A) $6,900. B) $6,300. C) $4,440. D) $7,580. E) $3,160. 3) Refer to the information above to answer this question. What are the week's total implicit costs for the Do Drop In? A) $40.B) $680. C) $7,580. D) $6,300. E) $6,900. 4) Refer to the information above to answer this question. What is the week's economic profit for the Do Drop In? A) $320. B) $280. C) $1,050. D) -$320. E) -$40