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 ? $ 8,800 Supplies inventory $ 5, 300 Equipment $ 37,500 Accumulated depreciation $ 15,200 Accounts payable $ 2,500 $ 5,000 Common stock Retained earnings The beginning balance of retained earnings 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.)