What are the accounting profit and economic profit for each

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During a particular year, a consulting firm has the following costs: 575,000 in wages and salaries to employees; 70,000 in rental payments; and 27,000 for office supplies, utilities and advertising. In Addition Janis the owner of the firm is full time and is not paid in salary, she she gets the firms profits. If she did not work for the consulting firm, janis could earn 120,000 per year working as a consultant for another firm. For each possible amount of total revenue, fill in the accounting profit and economic profit of the consulting firm. Total revenues are : 750,000; 800,000; 850,000 and 900;000 What are the accounting profit and economic profit for each?

Reference no: EM13213993

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