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Purpose of AssignmentElectronic spreadsheets are useful tools, especially when creating a business budget. Once a spreadsheet is set up correctly in Excel®, values can be modified at any time, and the electronic spreadsheet will automatically update itself. Students will create a spreadsheet of computer equipment for a small fictional business where they are the owner. They will include the cost of all hardware and software needed for their employees, and calculate a monthly budget for the equipment.Assignment StepsResources:Research hardware and software to satisfy operational requirements described aboveMicrosoft Office 365, Office 2016: Introductory: Module 1: Creating a Worksheet and a ChartMicrosoft Office 365, Office 2016: Introductory: Module 2: Formulas, Function, and FormattingScenario: Imagine you are the owner of a small internet business where you employ five people. You need to budget for the cost of hardware and software needed to run company operations. Each employee is required to work both in the office and remotely, and needs access to company data at all times. Choose the hardware and software that will provide your employees with the ability to stay connected to internal company data, communicate and collaborate with coworkers, and process data and sales information using wording, processing, and spreadsheet software applications.Create a business budget sheet using Microsoft® Excel®. In the budget sheet, do the following: List the make and model of desired hardware devices and their cost.List software operating systems and applications for each device and their costs.Sum up the cost for both hardware and software for each employee, and then calculate the average monthly costs to maintain these systems.Insert a graph or chart displaying total costs graphically.Label columns/rows with titles reflecting data they contain.Use no more than two sheets in one workbook to display required data.Format data to highlight important totals. The Budget sheet answers should include 1,400 words. Note: this assignment only requires that you submit an Excel® Workbook file. There are no written or APA guideline requirements.Save this document as Lastname_BusinessBudget_W3.xls.