Please give answer with own words and fill in the blanks. Show full working/calculation too.

Question 2 Refer to the scenario below to answer the questions. Upon graduating with an accounting degree, you open your own accounting rm of which you are the sole employee. To start the rm you passed on a job offer with a large accounting rm that offered you a salary of RM60,000 annually. Last year you earned a total revenue of RM100,000. Rent and supplies last year were RM50,000. 2.1) Your annual economic costs are . (1M) 2.2) Your annual economic prot is . (1M) 2.3) Your annual accounting prot is . (1M) 2.4) Based on the above information, describe the condition of your rm. (2M)