Definition of economic costPlease help find accounting profit, and economic profit Also, not sure if chart is correct

1. Definition of economic costs Edison lives in Philadelphia and operates a small company selling bikes. On average, he receives $712,000 per year from selling bikes. Out of this revenue from sales, he must pay the manufacturer a wholesale cost of $412,000. He also pays several utility companies, as well as his employees wages totaling $269,000. He owns the building that houses his storefront; if he choose to rent it out, he would receive a yearly amount of $1,000 in rent. Assume there is no depreciation in the value of his property over the year. Further, if Edison does not operate the bike business, he can work as a nurse and earn a yearly salary of $21,000 with no additional monetary costs, and rent out his storefront at the $1,000 per year rate. There are no other costs faced by Edison in running this bike company. Identify each of Edison's costs in the following table as either an implicit cost or an explicit cost of selling bikes. Implicit Cost Explicit Cost The rental income Edison could receive if he chose to rent out his showroom O The wages that Edison pays O O The salary Edison could earn if he worked as a nurse O O The wholesale cost for the bikes that Edison pays the manufacturer O O Complete the following table by determining Edison's accounting and economic profit of his bike business. Profit (Dollars) Accounting Profit Economic Profit