Exercise 8-9 (Algo) Budgeted Balance Sheet (L08-10) Che 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 2 Accounts receivable $ 8,300 Supplies inventory $ 3.200 Equipment $ 35,000 Accumulated depreciation $ 14,200 Accounts payable 5 2.000 Common stock $ 5,000 Retained earnings 7 The beginning balance of retained earnings was $30,000, net income is budgeted to be $13,900, and dividends are budgeted to be $3,100. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducled should be indicated by a minus sign.) Mecca Copy Budgeted Balance Sheet Assets Current assets: Chede my work 24 The beginning balance of retained earnings was $30.000, net income is budgeted to be $13,900 and vidends are budgeted to be $3,100 Required: Prepare the company's budgeted balance sheet (Amounts to be deducted should be indicated by a minus sign) Mecca Copy Budgeted Balance Sheet Assets Currentes 5 0 Total current assets Plant and equipment 0 5 0 Plant and equipment.net Total assets Liabilities and Stockholders' Equity Currentiates