[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 $29,000 of her own savings and recelve 2,500 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, $3,800; amounts due from customers for services rendered, \$3,200; pool supplies inventory, \$5,500; equipment, \$28,900; amounts owed to Pool Corporation, Incorporated, a pool supply wholesaler, $4,400; note payable to the bank, $5,900. Penny forecasts first-year sales of $65,400, wages of $24,900, cost of supplies used $9,100, other administrative expenses of $5,400, and income tax expense of $4,900. She expects to pay herself a $19,000 dividend as the sole stockholder of the company. If Penmy's estimates are correct, what would the following first-year financial statements look like for Penny's Pool Service \& Supply, Incorporated? 3. Prepare a balance sheet for the current year