Exercise 8-9 (Algo) Budgeted Balance Sheet [LO8-10] 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 Supplies inventory Equipment Accumulated depreciation. Accounts payable Common stock Retained earnings 7 $ 8,700 $ 5,100 $ 37,000 $ 15,000 $ 2,400 $ 5,000 The beginning balance of retained earnings was $34,000, net income is budgeted to be $18,700, and dividends are budgeted to be $5,200. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) The beginning balance of retained earnings was $34,000, net income is budgeted to be $18,700, and dividends are budgeted to be $5,200. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Mecca Copy Budgeted Balance Sheet 9:07 Assets Current assets ok nces Total current assets Plant and equipment: Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Total assets Liabilities and Stockholders' Equity Current liabilities: ' Stockholders' equity: Total stockholders' equity Total liabilities and stockholders' equity