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: Cash Accounts receivable Ending Balances 2 $ 8,500 Supplies inventory $ 4,700 Equipment $ 36,000 Accumulated depreciation $ 14,600 Accounts payable $ 2,200 $ 5,000 2 Common stock Retained earnings The beginning balance of retained earnings was $32,000, net income is budgeted to be $16,300, and dividends are budgeted to be $2,700. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Current assets: Mecca Copy Budgeted Balance Sheet Assets Current assets Total current assets Plant and equipment Mecca Copy Budgeted Balance Sheet Assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current abilities: Stockholders' equity Total stockholders' equity Total liabilities and stockholders equity