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 $ 10,000 $ 4,400 $ 43,500 $ 17,600 $ 3,700 $ 5,000 7 The beginning balance of retained earnings was $36,000, net income is budgeted to be $20,500, and dividends are budgeted to be $3,700. 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 Total current assets Plant and equipment: Liabilities and Stockholders' Equity Plant and equipment, net Total assets Current liabilities: Stockholders' equity: Total stockholders' equity Total liabilities and stockholders' equity + 69 $ 0 0 $ 0 S 0