Required information [The following information applies to the questions displayed below) Nicole Mack sey is thinking of forming her own spa business, Nicole's Getaway Spa (NGS), Nicole expects that she and two family members will each contribute $11,000 to the business and receive 1000 shares each Nicole forecasts the following amounts for the first year of operations, ending December 31, 2018 Cash on hand and in the bank $3,050, amounts due from customers from spa treatments, $1870, building and equipment, $79.000, amounts owed to beauty supply outlets for spa equipment. $4,750 notes payable to a local bank for $39.770. Cash dividends of $4000 will be paid to the stockholders during the year. Nicole also forecasts that first year sales revenues will be $62.400, wages will be $28.500 the cost of supplies used up will be $11,500, office expenses will be $9,500, and income taxes will be $2,500 21 Required: 1. Based on Nicole's estimates, prepare a (forecasted) income statement for Nicole's Getaway Spa for the year ended December 31, 2018 NICOLE'S GETAWAY SPA Income Statement(forecastod)