(Answered) Glen spends at least 40 hours a week at his place of

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Glen spends at least 40 hours a week at his place of business. If he closed the company, he could work for his competitor earning $50,000 a year. He also owns the building the company operates in and could rent it out for $12,000 a year if he closed his business. He invested $50,000 which he withdrew from CD account that generates 5 % interest. The business records show the following

Wagesexpense??$ 28,000.00

Interestexpense paid on loans$ 6,000.00

Other expenditures for factors of production?$ 34,000.00

Total Revenue?$ 70,000.00

a.What is Glen Accounting profitb.What is Glen Economic profit

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