3. (25 pts) You are beginning a business with an initial investment of $200,000. Show a balance sheet (printed out from MS Excel) at each of the steps below (one each for steps a, b, c, d): Each Balance sheet should look like: Balance Sheet Current Liabilities Current Assets Total Current Assets 0 Total Current Liabilities 0 Fixed Assets Long Term Debt Total Fixed Assets 0 0 Total Long Term Debt Total Liabilities 0 Equity 0 Total Net Worth (Equity) o Total Liabilities & Net Worth Total Assets (a) (5 pts) You put $200,000 into the bank for the business. You are the proprietor. (b) (5 pts) You buy a store for sales of your products. The building costs $90,000, which you pay for with a loan. You put $20,000 down and will have a 10 year loan for the balance of the principal. (c.) (5 pts) You buy $74,000 inventory for your store to sell. You pay for it with $30,000 in cash and $44,000 net 90 days. (d.) (5 pts) You sell $40,000 of your inventory for $60,000, with 12,000 of expenses and taxes? (e.) (5 pts) What is the net worth at after step (d)