Suppose you quit your job to start a business. In the first month, your total revenue was $6,000….

Suppose you quit your job to start a business. In the first month, your total revenue was $6,000. You paid: $1,000 in monthly rent for office space.$ 200 in monthly rent for equipment.$3,000 to your workers in wages for the month.$1,000 for the supplies you used that month.You determine that your true profit that month was negative $200. Why?You accounted for lost salary of $200.You did the math incorrectly.Your equipment rent is an implicit cost.You accounted for lost salary of $1000.

 

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