CC1-1 (Algo) Financial Statements for a Business Plan [LO 1-2, LO 1-3] [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 $10,000 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, $2,450; amounts due from customers from spa treatments, $1,810; building and equipment, $73,000; amounts owed to beauty supply outlets for spa equipment, $4,690; notes payable to a local bank for $39,170. Cash dividends of $5,000 will be paid to the stockholders during the year. Nicole also forecasts that first-year sales revenues will be $50,800; wages will be $25,500; the cost of supplies used up will be $8,500; office expenses will be $6,500; and income taxes will be $1,900. CC1-1 (Algo) Part 1 Required: 1. Based on Nicole's estimates, prepare a (forecasted) income statement for Nicole's Getaway Spa for the year ended December 31, 2021. NICOLE'S GETAWAY SPA Income Statement (forecasted)