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Required information [The following information applies to the questions displayed below] Nicole Mackisey is thinking of forming her own spo 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, $2,350; amounts due from custorners from spa treatments, $1,800; buliding and equipment, $72,000; amounts owed to beauty supply outiets for 5 pa equipment, $4,680; notes payable to a local bank for $39,070. Cash dividends of $4,000 will be paid to the stockholders during the year. Nicole also forecasts that first-year sales revenues wil be $47,200; wages will be $25,000; the cost of supplies used up will be $8,000; office expenses wili be $6,000; and income taxes will be $1,800. 2. Prepare a (forecasted) statement of retained earnings for Nicole's Getaway Spa for the year ended December 3t, 2021. Required information [The following information applies to the questions displayod below.] Nicole Mackisey is thinking of forming her own spa business, Nicoles 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 yeor of operations, ending December 31, 2021: Cash on hand and in the bank, \$2.350, amounts due from customers from spa treatments, $1800; bulding and equipment, $72,000; omounts owed to beauty supply outlets for spa equipment, $4,680; notes payable to a local bank for $39,070. Cash dividends of $4,000 wili be poid to the stockholders during the year. Nicole also forecasts that first-year sales revenues will be $47,200, wages will be $25,000, the cost of supplies used up will be $8,000; office expenses wil be $6,000; and income taxes wi be $1,800 4. Are crecitors or stockholders expected to supply most of the financing for NGS's assets at December 31,20217 Creditors Stockhoiders

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