Required Information CON1-1 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, Inc. (PPSS). She has decided to incorporate the business to limit her legal iability. She expects to invest $30.000 of her own savings and receive 1,000 shares of common stock. Her plan for the first year of operations forecosts the following amounts at the end of the year December 31, current yeer: Cash in bank, $3,900, amounts due from customers for services rendered, $3,300. pool supplies inventory, $5.600; equipment, $29000, amounts owed to POOLCORP a pool supply wholesaler, $4,500: note payoble to the bank, $6.000. Penny forecasts first year sales of $66,000, wages of $25,000, cost of supplies used $9,200, other administrative expenses $5.500, and income tox expense of $5,000. She expects to pay herself o $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