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 $9,300 Supplies inventory $3,000 Equipment $40,000 Accumulated depreciation $16,200 Accounts payable $3,000 Common stock $5,000 Retained earnings The beginning balance of retained earnings was $29,000, net income is budgeted to be $19,000, and dividends are budgeted to be $5,600. 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 Current assets Current assets Assets Total current assets Plant and equipment Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity