9 Exercise 8-9 (Algo) Budgeted Balance Sheet [LO8-10] 0.5 points Skipped Check my 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 eBook Hint References Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings $9,300 $3,000 $40,000 $ 16,200 $3,000 $5,000 7 The beginning balance of retained earnings was $29,000, net income is budgeted to be $19,000, and dividends are budgeted to be $5,600.