Exercise 8-9 Budgeted Balance Sheet (L08-10) 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 7 $ 9,800 $ 4,000 $ 42,500 $ 17,200 $ 3,500 $ 5,000 The beginning balance of retained earnings was $34.000, net incom budgeted to be $18,100, and dividends are budgeted to be $4,100 Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Mecca Copy Budgeted Balance Sheet Assets Current assets: $ 0 Total current assets Plant and equipment: 0 $ 0 Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Stockholders' equity 0 Total stockholders' equity Total abilities and stockholders' equity $ 0