You inherited $$150,000$ from your grandparents' life insurance. Your grandparents and you shared a dream of someday starting a family business. Now that you are a management student and you have the money, you feel the time to start the business is nowl

$1$ Decided on a business $-$ preferably Retail or Service

$2$ Decided which expenses are fixed and what expenses are variable

$3$ Complete the Fixed Expense Sheet $($next sheet$)$

$4$ Complete the CM $($Contribution Margin sheet

$5$ Calculate break$-$even $($BE Sheet$)$

$6$ Prepare a budget $-$ at the break$-$even level.

$7$ The budget must included the following items

$8$ Sales Budget

$9$ Capital Equipment Budget

$10$ Human Resources Budget

$11$ Incomestatement

$12$ Statement of Owners Equity $($you do not need to invest the entire $$150,000)$

$13$ Accounts Receivable Schedule

$14$ Accounts Payable Schedule

$15$ Cash flow

$16$ Balance sheet

$17$ Recalculate the budget for a profit of $$50,000-$ your Owners Withdrawal