Required information CON1-1 (Algo) Financial Statements for a New Business Plan LO1-1 [The following information applies to the questions displayed below.] Penny Cassidy is considering forming her own pool service and supply company, Penny's Pool Service \& Supply, Incorporated. She has decided to incorporate the business to limit her legal liability. She expects to invest $36,000 of her own savings and receive 3,000 shares of common stock. Her plan for the first year of operations forecasts the following amounts at December 31 , the end of the current year: cash in bank, $10,500; amounts due from customers for services rendered, $3,900; pool supplies inventory, $6,200; equipment, $29,600; amounts owed to Pool Corporation, Incorporated, a pool supply wholesaler, $5,100; note payable to the bank, $6,600. Penny forecasts first-year sales of $69,600, wages of $25,600, cost of supplies used $9,800, other administrative expenses of $6,100, and income tax expense of $5,600. She expects to pay herself a $20,000 dividend as the sole stockholder of the company. If Penny's estimates are correct, what would the following first-year financial statements look like for Penny's Pool Service \& Supply, Incorporated? CON1-1 Part 2 2. Prepare a statement of stockholders' equity for the current year