Jaynet spends Php 20,000 per year on painting supplies and storage space

Accounting Aug 28, 2020

Jaynet spends Php 20,000 per year on painting supplies and storage space. She recently received two job offers from a famous marketing firm – one offer was for Php 100,000 per year, and the other was for Php 90,000. However, sheturned both jobs down to continue painting career. If Jaynet sells 20 paintings per year at aprice of Php 10,000 each:
a) What are her accounting profits?
b) What are her economic profits?