Make an Income Statement using the following data.

Opening Budget Company Name: Total Talent Productions Estimated Opening Date: 06/22/2021 Investments Investments Shareholder 1 ( 5,000) Shareholder 2 ( 5,000) Shareholder 3 ( 5,000) Shareholder 4 ( 5,000) Shareholder 5 ( 5,000) Starter Company Plus Grant (5,000) Total Investments ($ 30,000) Startup Expenses Legal and Administrative General Liability Insurance (650) Trademark Business Name (600) Entertainment Lawyer (300) Total Legal and Administrative (S 1550) Advertising and Promotional Marketing Consultant (300) Social Media Ads (200) Influencer Advertising (1500) Total Advertising and Promotional ($ 2,000) Website Website Design (300) Total Website Expenses ($ 300) Other Expenses Total Other Expenses (S) Reserve for Contingencies TBD Summary Investments and Loans: Owners' Investments ( 25,000) Grant (5,000) Total Source of Funds ($ 30,000) Startup Expenses: Legal and Administrative (1550) Advertising and Promotional (2000) Website Design (300) Total Startup Expenses ($ 3850) Overhead Expenses (*per month) CEO (5,000) CFO (5,000) COO (5,000) VP Marketing (5,000) VP Legal ( 5,000) Zoom Subscription (20) General Liability Insurance (650) Entertainment Lawyer (300) Total Overhead Expenses (per month) ($25970) x 2 months Total Estimated losses ($ 51,940) Opening Budget Company Name: Total Talent Productions Estimated Opening Date: 06/22/2021 Investments Investments Shareholder 1 ( 5,000) Shareholder 2 ( 5,000) Shareholder 3 ( 5,000) Shareholder 4 ( 5,000) Shareholder 5 ( 5,000) Starter Company Plus Grant (5,000) Total Investments ($ 30,000) Startup Expenses Legal and Administrative General Liability Insurance (650) Trademark Business Name (600) Entertainment Lawyer (300) Total Legal and Administrative (S 1550) Advertising and Promotional Marketing Consultant (300) Social Media Ads (200) Influencer Advertising (1500) Total Advertising and Promotional ($ 2,000) Website Website Design (300) Total Website Expenses ($ 300) Other Expenses Total Other Expenses (S) Reserve for Contingencies TBD Summary Investments and Loans: Owners' Investments ( 25,000) Grant (5,000) Total Source of Funds ($ 30,000) Startup Expenses: Legal and Administrative (1550) Advertising and Promotional (2000) Website Design (300) Total Startup Expenses ($ 3850) Overhead Expenses (*per month) CEO (5,000) CFO (5,000) COO (5,000) VP Marketing (5,000) VP Legal ( 5,000) Zoom Subscription (20) General Liability Insurance (650) Entertainment Lawyer (300) Total Overhead Expenses (per month) ($25970) x 2 months Total Estimated losses ($ 51,940)