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 ? $ 9,300 $ 3,000 $ 40,000 Accumulated depreciation $ 16, 200 $ 3,000 Accounts payable Common stock Retained earnings $ 5,000 ? 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.) Budgeted Balance Sheet Current assets: Total current assets Plant and equipment: Plant and equipment, net Total assets Assets Liabilities and Stockholders' Equity Current liabilities: Stockholders' equity: Current assets: Total current assets Plant and equipment: Plant and equipment, net Total assets Mecca Copy Budgeted Balance Sheet Assets Liabilities and Stockholders' Equity Current liabilities: Stockholders' equity: Total stockholders' equity Total liabilities and stockholders' equity