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 ? $ 9,600 $ 3,600 $ 41,500 $ 16,800 $ 3,300 $ 5,000 ? The beginning balance of retained earnings was $32,000, net income is budgeted to be $15,700, and dividends are budgeted to be $5,800. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Answer is not complete. Mecca Copy Budgeted Balance Sheet Assets Current assets: Cash Accounts receivable Supplies inventory 9,600 3,600 0 0 $ 13,200 Total current assets Plant and equipment Accumulated depreciation > 16,800 X 16.800 30,000 $ Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Stockholders' equity Common stock $ Retained earnings o $ 3,300 5,000 0 0 5,000 Total stockholders' equity Total liabilities and stockholders' equity $ 8.300