1. On January 1, 2022, you enter the lemonade stand business. In order to buy all the required equipment and supplies to get started, you estimate that you will need $50k, plus an extra $100k for cushion. 2. You open a business checking account into which you put $100k of your own money. You incorporated an issued yourself -the sole shareholder -5,000 shares. In addition, you borrow $50k from the bank at a 10% annual interest rate. 3. You buy $20k worth of lemons and paper cups (just enough to make 100k cups of lemonade). You also buy a lemon squeezer for $15k and a lemonade stand for $15k. You buy a cash register for $2k. 4. You estimate that the lemon squeezer and lemonade stand will have useful lives of 3 years, while the cash register will be 5 years. At the end of their useful lives, assume they will be obsolete and be thrown away (assume straight-line depreciation). 5. You operate the business for a year and sell 100k cups of lemonade for $1 each. 6. You hired a lemonade mixer and paid him $15k for the year 7. In addition, you also hired a cashier to ring people up and paid him $15k for the year. 8. Tax rate for the lemonade stand business is 40%. 9. The accounting period ends on 12/31/22. Create an income statement for the lemonade stand for 2022 based on this