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a.Calculate Economic profit and Accounting profit from the figures given below for ABC Company. Total revenue $ 500,000 Wages and salaries$ 400000 Forgone salary$ 80,000

a.Calculate Economic profit and Accounting profit from the figures given below for ABC Company.

Total revenue $ 500,000

Wages and salaries$ 400000

Forgone salary$ 80,000

Interest paid$ 10,000

Forgone rent$ 10,000

Raw materials$ 50,000

Other payments$ 20,000

Forgone interest$ 7,000

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