Required information 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, $3,450; amounts due from customers from spa treatments, $1,910; building and equipment, $74,000; amounts owed to beauty supply outlets for spa equipment, $4,790; notes payable to a local bank for $40,170. Cash dividends of $3,500 will be paid to the stockholders during the year. Nicole also forecasts that first-year sales revenues will be $66,300; wages will be $30,500; the cost of supplies used up will be $13,500; office expenses will be $11,500; and income taxes will be $2,900. CC1-1 (Algo) Part 4 4. Are creditors or stockholders expected to supply most of the financing for NGS's assets at December 31,2021 ? Creditors Stockholders Required information 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, $3,450; amounts due from customers from spa treatments, $1,910; building and equipment, $74,000; amounts owed to beauty supply outlets for spa equipment, $4,790; notes payable to a local bank for $40,170. Cash dividends of $3,500 will be paid to the stockholders during the year. Nicole also forecasts that first-year sales revenues will be $66,300; wages will be $30,500; the cost of supplies used up will be $13,500; office expenses will be $11,500; and income taxes will be $2,900. CC1-1 (Algo) Part 3 3. Prepare a (forecasted) balance sheet for Nicole's Getaway Spa at December 31, 2021