BUSN320 B001 Sum 1 – Assume you are going to start a simple e-business from scratch

Assignment InstructionsAssume you are going to start a simple e-business from scratch, using no existing equipment or materials. Briefly describe the business, and then do a rough calculation of startup costs, following the list provided in Section 4.1.1. Research costs that is realistic for the area in which you live. Be generous in your estimates and avoid cutting corners on any expenses.Publicly held e-commerce companies (Yahoo.com, for example) must publish financial statements with their annual reports, which are available online. Access a recent annual report for one of these companies and review the balance sheet. List which company and record amounts for the following:current assets, total assets, current liability, total liability, and owner’s equity. Prove that the balance sheet balances by applying the appropriate equation which can be found in our text. (BTW it is not necessary to copy the entire financial statements of your selected company into your paper, just use therequested data elements – current assets etc.- to prove the balance sheets are in fact in balance)Response should be no less than 2-3 pages (not counting the cover page and references page), supported with credible references and submitted in a APA format.You must submit your assignment as a Word doc attachment on the Assignments tab for the week. Assignments submitted via email or the Messages tab will not be accepted.Turnitin will be used to measure originality.