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	$ 8,200
Supplies inventory	$ 3,200
Equipment	$ 34,500
Accumulated depreciation	$ 14,000
Accounts payable	$ 1,900
Common stock	$ 5,000
Retained earnings	?

The beginning balance of retained earnings was $29,000, net income is budgeted to be $12,700, and dividends are budgeted to be $2,500.

Required:

Prepare the companys budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.)