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CC1-1 (Algo) Financial Statements for a Business Plan [LO 1-2, LO 1-3] Skip to question [The following information applies to the questions displayed below.] Nicole
CC1-1 (Algo) Financial Statements for a Business Plan [LO 1-2, LO 1-3] Skip to question [The following information applies to the questions displayed below.] Nicole Mackisey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS). Nicole expects that she and two family members will each contribute $11,000 to the business and receive 1,000 shares each. Nicole forecasts the following amounts for the first year of operations, ending December 31, 2021: Cash on hand and in the bank, $2,750; amounts due from customers from spa treatments, $1,840; building and equipment, $76,000; amounts owed to beauty supply outlets for spa equipment, $4,720; notes payable to a local bank for $39,470. Cash dividends of $8,000 will
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