Complete the following balance sheet using the information given.Round account balances to the nearest dollar.
Definitions:
Entry
The act of beginning or entering into a particular market or area of business, often involving competition.
Input Prices
The costs associated with the raw materials, labor, and other resources required for the production of goods or services.
Economic Profit
The difference between total revenue and the total opportunity costs (both explicit and implicit) of all resources involved in the production of goods or services.
Fixed Costs
Costs that do not change with the level of output or production, such as rent, salaries, and loan payments.
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