Suppose you are running an Ice Cream store. Your total sales are $250,000. Here is a list of your costs:
Rent: $42,000
Equipment Lease: $8,000
Wages: $80,000
Materials: $50,000
Insurance: $2,000
Utilities: $15,000

If you shut down your store, you could rent out the space for $20,000. Additionally, you could work in consulting and make $70,000.
What is your accounting profit and your economic profit?
Should you keep running the store or shut down?