Ana currently works for a law firm and she makes an annual s…

Ana currently works for a law firm and she makes an annual salary of $125,000. She wants to open her own legal practice and expects to earn $200,000 per year. In order to do so, she’ll need to hire a clerk who will cost $35,000/year in salary. She also needs to rent an office, which will cost $50,000/ year. Based on this information, answer the following: Calculate Ana’s accounting profit (show your work!). Calculate Ana’s economic profit or loss (show your worl!)