PROBLEMS 1. Below is an annual income statement of Julian's Online Clothing Store. Julian is already working full time in the store and P300,000 of his money has been used invested) to buy the store and stock it with merchandise. Julian just turned down a job offer to manage a store that will pay him P250,000 per year. He did not pay himself a salary in 2019. According to the data: A. Is Julian's Online Clothing Store generating a positive, zero, or negative accounting profit for 2019? Show supporting calculations. B. What do you think are Julian's implicit costs (i.e., what are these benefits Julian is willing to forego)? C. Assume that the interest was 12% annually in the money/funds market recalculate Joe's total opportunity costs. D. What was the economic profit (or loss of Julian's Online Clothing Store in 2019? E. Evaluate the business performance based on economic profit. Revenues Sales Inventory Adjustment Costs P550,000 Wholesale clothing 20,000 Equipment Labor Utilities and insurance P570,000 Total Costs P300,000 20,000 150,000 10,000 Total Revenues $480,000 2. Consider the following data of Speedy Delivery Service. Speedy DS needs to find out the