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: The beginning balance of retained eamings was $35,000, net income is budgeted to be $19,900, and dividends are budgeted to be $2,900. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.)