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 $ 8,400 Supplies inventory $ 4,500 Equipment $ 35,500 Accumulated depreciation $ 14,400 Accounts payable $ 2,100 Common stock $ 5,000 Retained earnings ? The beginning balance of retained earnings was $31,000, net income is budgeted to be $15,100, and dividends are budgeted to be $5,000. Required: Prepare the companys budgeted balance sheet.