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 Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings Ending Balances 7 58,800 $ 5,300 $ 37,500 $ 15,2001 $ 2,500 $ 5,000 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.) Assets Current assets: Mecca Copy Budgeted Balance Sheet