Suppose that a business incurred implicit costs of $500,000 and explicit costs of $5 million in a specific year. If the firm sold 100,000 units of its output at $50 per unit, its accounting:

A.  profits were $100,000 and its economic profits were zero.
B.  losses were $500,000 and its economic losses were zero.
C.  profits were $500,000 and its economic profits were $1 million.
D.  profits were zero and its economic losses were $500,000.

D.  profits were zero and its economic losses were $500,000.