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Question 2 (7 Marks) John quit his part-time job as a teacher earning AUD 40,000 per year to start his own food kiosk business. To
Question 2 (7 Marks) John quit his part-time job as a teacher earning AUD 40,000 per year to start his own food kiosk business. To start the business, John utilised AUD 60, 000 he was earnng from his rental property. Also, John used AUD 40,000 he had saved in Citi Bank. John was earning 5% interest per year from Citibank. Further, he borrowed AUD 50,000 from his uncle and was paying 5% per year. John's rst year business was summarised as follows: Item Amount $ Revenue- Orange section 85,000 Revenue- Beverages Section 250,000 2 Cashiers expense (wages per worker) (40,000) Other revenue 100,000 Truck expense (70,000) Manager expense (65,000) Milk sales assistant expense (30,000) Equipment expense (50,000) Motorcycle expense to ease movement in city (30,000) Use the information provided to calculate the business economic prot and accounting prot
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