Managerial Accounting Exercise- Solve the problem below and show how it's solved. Thanks SOLVE THIS PART

Exercise 7-6 Incremental Analysis and Opportunity Costs Finn's Seafood Restaurant has been approached by New England Investments, which wants to hold an employee recognition dinner next month. Lillian Sumner, a manager of the restaurant provided the following information concerning the event Charge per person, for food, wine, and dessert Number of participants expected Estimated cost of unprepared food per person Estimated cost of beverages per person $72.00 175 $ 36.00 $ 14.00 To be able to accommodate the group, Lillian will have to close the restaurant for dinner that night. On a typical night, the following costs and other data are expected to be incurred: 190 $ 56.00 $20.00 $ 17.00 Number of people expected to be served Average bill per person Cost of unprepared food per person Cost of beverages per person No additional staff will need to be hired to accommodate the group from New England Investments, a. Calculate the incremental profit or loss associated with accepting the New England Investments group Less costs: Incremental increase in profit from New England event Cost savings: Incremental loss of profit from closing Net incremental increase in profit from New England event b. What was the opportunity cost of accepting the New England Investments group? c. Should Lillian have considered any qualitative factors in her decision? Explain