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hey i have filed out the charts just need help with numbers please thank you CC1-1 Financial Statements for a Business Plan [LO2, LO3] Nicole

hey i have filed out the charts just need help with numbers please thank you

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CC1-1 Financial Statements for a Business Plan [LO2, LO3] 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 $13,000 to the business and receive 1,300 shares each. Nicole forecasts the following amounts for the first year of operations, ending December 31, 2017: cash on hand and in the bank, $2,570; amounts due from customers from spa treatments, $2,520; building and equipment, $78,120; amounts owed to beauty supply outlets for spa equipment, $4,800; notes payable to a local bank, $37,990. Cash dividends of $2,600 will be paid to the shareholders during the year. Nicole also forecasts that first-year sales revenues will be $82,000, wages will be $49,200, the cost of supplies used up will be $16,300, selling and administrative expenses will be $9,200, and income taxes will be $3,280. Required: 1. Based on Nicole's estimates, prepare a (forecasted) income statement for Nicole's Getaway Spa for the year ended December 31, 2017.Required: 1. Based on Nicole's estimates, prepare a (forecasted) income statement for Nicole's Getaway Spa for the year ended December 31, 2017. x Answer is not complete. NICOLE'S GETAWAY SPA Income Statement (forecasted) For the Year Ended December 31, 2017 Sales revenue Expenses Wages expense Supplies expense Selling and administrative expenses Income tax expense Total expenses 0 Net income V2. Prepare a (forecasted) statement of retained earnings for Nicole's Getaway Spa for the year ended December 31, 2017. x Answer is not complete. NICOLE'S GETAWAY SPA Statement of Retained Earnings (forecasted) For the Year Ended December 31, 2017 Retained earnings, January 1, 2017 Add: Net income Less: Dividends Retained earnings, December 31, 2017 $ 03. Prepare a (forecasted) balance sheet for Nicole's Getaway Spa at December 31, 2017. * Answer is not complete. NICOLE'S GETAWAY SPA Balance Sheet (forecasted) At December 31, 2017 Assets Cash Accounts receivable Building and equipment Total assets $ 0 Liabilities Accounts payable Notes payable Total Liabilities 0 Shareholders' equity Retained earnings Total shareholders' equity 0 Total liabilities and shareholders' equity 0

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