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1. What is the definition of start-up funding and explain the two specific activities a business owner will need to have enough money to cover? Answer: 2. According to the Textbook, when does the start-up funding period end for a business? Answer: Case Study Information: Sylvia plans to use the $75,000 in her savings account to start a bakery. She estimates that during the first month she will need to pay one-time startup expenses of $62,000 and monthly operating expenses of $8,000. During the second month, she will have net revenue after cost of goods sold of $4,000 and operating expenses of $8,000. During the third month, she will have net revenue of $11,000 and operating expenses of $8,000. 3. Project the cash flow using the direct cash flow method for Sylvia's bakery for the first three months. 4. Does Sylvia have enough money in her savings to start the business? How much total does the cash flow reveal she needs