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Question

.com/ibiscms/mod/ibis,/view.php?id-5976727 7/19/2018 1155 PM 45.4/1007/19/2018 07:49 PM B Gradebook Question 4 of 18 Sapling Learning Map Reggie owns and operates a cheese shop in the village of Somerset. While Reggie has a degree in mechanical engineering and could easily go to work for his brothers company earming $68,000 a year, his true passion is for cheese Gvestons that folalst of Reggie's expenses from 2010, Please use the information piovided to answer the Revenue from 2010 Rent S 80.000 S 16,000 4,000 Supplies $ 3,000 What is Reggie's accounting profit? What is Reggie's economic profi? Number Number Previous & Give Up & view Solution Check Answer Next Ex 19

Explanation / Answer

Accounting profit

$80000-$16000-$4000-$3000=$57000

Economic profit

$80000-$16000-$4000-$3000-$68000 = $-11000

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