Question 3. John operates an automobile repair shop called A1 Automobile Repair Shop providing the follow ing: light vehicle servicing and parts, panel beating and spray painting, roadside assistance, sales of accessories. She owns the w orkshop building and supplies her own labour and m oney capital. Prior to starting her own business, M ai w an earned K 2600 per m onth by renting out the workshop. She also earned K 5800 per m onth in wages as a regional m anager for E la M otors. To start the business, M ai w an w ithdrew her savings of K 20000 from IBD (interest bearing deposit) w ith BSP which w as earning 5% interest per m onth. H er m onthly financial statem ent show ed the revenues from operating her w orkshop as K 16, 000 and her m onthly expenses for labour costs am ounted to K 5000, cost of utilities am ounted to K 1500 and cost of supplies am ounted to K 3,000. Calculate John's monthly explicit and implicit costs as well as the accounting and economic profits.​