Eduardo, a teacher, earned $40,000 as his annual salary from his employer in 2018. But in 2019 he decided to quit that j

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Eduardo A Teacher Earned 40 000 As His Annual Salary From His Employer In 2018 But In 2019 He Decided To Quit That J 1 (51.11 KiB) Viewed 12 times

Eduardo, a teacher, earned $40,000 as his annual salary from his employer in 2018. But in 2019 he decided to quit that job and start his own business: manufacturing skateboards. Here's what he did to accomplish it: Stopped renting out his grandparents' cottage (for $8,000 a year) and used it as his factory instead. • He spent $60,000 on materials and utility bills. He got that money from his savings account, which was earning 5% annual interest. • He leased machines for $10,000 a year and paid $15,000 in wages. He sold $135,000 worth of skateboards. Eduardo's accounting profit is but his economic profit is O160,000; 85,000 141,000; 160,000 O-1000; 50,000 50,000; -1000