1.

The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year:

	Ending Balances
Cash	?
Accounts receivable	$ 8,600
Supplies inventory	$ 4,900
Equipment	$ 36,500
Accumulated depreciation	$ 14,800
Accounts payable	$ 2,300
Common stock	$ 5,000
Retained earnings	?

The beginning balance of retained earnings was $33,000, net income is budgeted to be $17,500, and dividends are budgeted to be $3,300.

Required:

Prepare the companys budgeted balance sheet.

Note: Amounts to be deducted should be indicated by a minus sign.