\begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Mecca Copy } & \\ \hline \multicolumn{2}{|c|}{ Assets } & \\ \hline Current assets: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total current assets & & \\ \hline Plant and equipment: & & \\ \hline & & \\ \hline & & \\ \hline Plant and equipment, net & & \\ \hline Total assets & & \\ \hline \multicolumn{1}{|c|}{ Liabilities and Stockholders' Equity } & \\ \hline Current liabilities: & & \\ \hline \end{tabular} Exercise 8-7 (Algo) Cash Budget [LO8-8] Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: The company's beginning cash balance for the upcoming fiscal year will be $22,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quartenly interest rate of 35 The company may borrow any amount of the beginning of amy quarter and may repay its toans or any part of its loans at the end of any quarter interest payments are due on any principal at the time if is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year. (Repoyments, interest, aipd cash deficlencies should be indicoted by o minus sign.) The management of Mecca Copy, a photocopying center located on University Avenue, has complied the following data to use in preparing its budgeted balance sheet for next year: The beginning balance of retained earnings was $34,000, net income is budgeted to be $18,100, and dividends are bucigeted to be $4,100 \begin{tabular}{|c|c|c|} \hline & & \\ \hline & & \\ \hline & & \\ \hline Total current assets & $ & 0 \\ \hline Plant and equipment: & & \\ \hline 7 & & \\ \hline 7 & & \\ \hline Plant and equipment, net & & 0 \\ \hline Total assets & $ & 0 \\ \hline Liabilities and Stockholders & & \\ \hline Current liabilities: & & \\ \hline & & \\ \hline Stockholders' equity: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline 7 & & \\ \hline Total stockholders' equity & & 0 \\ \hline Total liabilities and stockholders' equity & $ & 0 \\ \hline \end{tabular} Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat Management has prepared the following summary data to use in its annual budgeting process. Required: Prepare the company's budgeted income statement for the year