The management of Classic Copy, a photocopying centre located on College Avenue, has compiled the following...

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The management of Classic Copy, a photocopying centre located on College Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year. Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation. Accounts payable Common shares Retained earnings Ending Balances ? $ 9,000 3,000 34,000 16,000 2,000 5,000 The beginning balance of retained earnings was $28,000, net income is budgeted to be $12,000, and dividends are budgeted to be $5,000. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated with minus sign.) Classic Copy Budgeted Balance Sheet Current assets: Total current assets. Plant and equipment: Plant and equipment, net Total assets Current liabilities: Assets Liabilities and Shareholders' Equity Plant and equipment, net Total assets Current liabilities: Liabilities and Shareholders' Equity Shareholders' equity: Total shareholders' equity Total liabilities and shareholders' equity The management of Classic Copy, a photocopying centre located on College Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year. Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation. Accounts payable Common shares Retained earnings Ending Balances ? $ 9,000 3,000 34,000 16,000 2,000 5,000 The beginning balance of retained earnings was $28,000, net income is budgeted to be $12,000, and dividends are budgeted to be $5,000. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated with minus sign.) Classic Copy Budgeted Balance Sheet Current assets: Total current assets. Plant and equipment: Plant and equipment, net Total assets Current liabilities: Assets Liabilities and Shareholders' Equity Plant and equipment, net Total assets Current liabilities: Liabilities and Shareholders' Equity Shareholders' equity: Total shareholders' equity Total liabilities and shareholders' equity