Answer:
Brian
1. Implicit and Explicit Costs:
Implicit costs:
The rental income Brian could receive if he chose to rent out his showroom
The salary Brian could earn if he worked as a financial advisor
Explicit costs:
The wages and utility bills that Brian pays
The wholesale cost for the pianos that Brian pays the manufacturer
2. Brian's accounting and economic profit of his piano business:
Accounting profit = $62,000
Economic profit (loss) = ($3,000)
Explanation:
a) Data and Calculations:
                                Accounting Profit     Economic Profit
Sales Revenue            $793,000                $793,000
Cost of pianos              430,000                   430,000
Wages and utility bills   301,000                    301,000
Implicit (Opportunity) Costs:
Rent                                                                   15,000
Salary as an accountant                                  50,000
Total costs                    731,000                    796,000
Profit (loss)                  $62,000                     ($3,000)
b) Implicit costs are opportunity costs.  They include the costs that arise from forgone benefits when another opportunity is taken instead of the other.  Explicit costs are costs that are actually incurred by taking an opportunity.