Dolores used to work as a high school teacher for $55,000 per year but quit to start her own catering business. To buy the necessary equipment, she withdrew $30,000 from her savings (which paid 2% interest per year) and borrowed $30,000 from her uncle, to whom she pays 3% interest per year. Last year she paid $25,000 for ingredients and had revenues of $75,000. She asked Louis (an accountant) and Greg (an economist) to calculate her profit for her. What did they say?

Im not sure which ones are implicit costs and which ones are explicit costs?