Exercise 8-9 (Algo) Budgeted Balance Sheet [LOB-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 $10,000 $4,400 $43,500 $17,600 3,700 $ 5,000 Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings The beginning balance of retained earnings was $36,000, net income is budgeted to be $20,500, and dividends are budgeted to be $3,700 Required: Prepare the company's budgeted balance sheet. Note: Amounts to be deducted should be indicated by a minus sign. Mecca Copy Budgeted Balance Sheet Assets Current assets Cash Accounts receivable Supplies inventory 10,000 4,400 Pra 9 of 11 Next > Current assets Cash Mooca Copy Budgeted Balance Sheet Assets Accounts receivable Supplies inventory Total current assets Plant and equipment Equipment Accumulated depreciation Plant and equipment, net 10,000 4,400 S 14,400 Total assets $ 14,400 Liabilities and Stockholders' Equity Current liabilities Accounts payable Stockholders' equity Common stock Retained eamings Total stockholders' equity O Total liabilities and stockholders' equity S