2.7 Website Development CostsApplying the Codification, plus Consideration of Original Standards Jenny and Jim have created a new website that they think will help families share photos more easily, create calendars and photo books, and share and edit family videos. Hoping their new site Wiit go viral, Jenny and Jim named their new company PhotoShare, Inc. and are preparing their first financial statements as required by their investors. Jenny and Jim have incurred the following costs to develop their website: Sl million to create the web platform capable of storing photos and allowing multiple users to view and edit photos $100,000 for website design, including the photo that appears on the homepage and the placement of each tab and link $50,000 to content writers, who wrote the Welcome screen message, plus who wrote instructions for users on how to use the site 2.7 Website Development CostsApplying the Codification, plus Consideration of Original Standards Jenny and Jim have created a new website that they think will help families share photos more easily, create calendars and photo books, and share and edit family videos. Hoping their new site Wiit go viral, Jenny and Jim named their new company PhotoShare, Inc. and are preparing their first financial statements as required by their investors. Jenny and Jim have incurred the following costs to develop their website: Sl million to create the web platform capable of storing photos and allowing multiple users to view and edit photos $100,000 for website design, including the photo that appears on the homepage and the placement of each tab and link $50,000 to content writers, who wrote the Welcome screen message, plus who wrote instructions for users on how to use the site