Why would the following three statements below be important for an entrepreneur in starting a new business?

1. Explain the importance of a start-up budget, an operating budget, as well as cost controls and what is involved in each and their relevance in planning the future path of the business and its financing

2. Describe and demonstrate how to use the income statement, the balance sheet, and the cash flow statement in analyzing the condition of the business and in taking the necessary steps to maintain and grow the business.

3. Define breakeven analysis and describe entrepreneurs practical use of accounting ratios in financial planning.