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SMALL BUSINESS MANAGEMENT 318 AUGUST 16 DUE DATEASSIGNMENT 2Read the following situation then answer the questions as part of well written essay (350-700 words). Adhere to APA formatting and include sources and citations where appropriate as well as a reference list at the end of your essay. (Remember to outline your paper adhering to APA formatting.)Review Lesson 2 and Chapter 5 of your textbook Exploring Business found here: -starting-a-business/Pay close attention to section 5.6 The Business Plan. Answer the questions posed below:Detailed Analysis -- Chocolate Chip Cookie Business PlanLet’s start with three givens: (1) college students love chocolate chip cookies, (2) you have a special talent for baking cookies, and (3) you’re always broke. Given these three conditions, you’ve come up with the idea of starting an on-campus business—selling chocolate chip cookies to fellow students. As a business major, you want to do things right by preparing a business plan. First, you identified a number of specifics about your proposed business. Now, you need to put these various pieces of information into the relevant section of your business plan. Using the business plan format described in this chapter, indicate the section of the business plan into which you’d put each of the following:1.You’ll bake the cookies in the kitchen of a friend’s apartment.2.You’ll charge $1 each or $10 a dozen.3.Your purpose is to make the best cookies on campus and deliver them fresh. You value integrity, consideration of others, and quality.4.Each cookie will have ten chocolate chips and will be superior to those sold in nearby bakeries and other stores.5.You expect sales of $6,000 for the first year.