Exercise 8-9 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 $ 3,500 Supplies inventory $ 4,700 Equipment $ 35,000 Accumulated depreciation $ 14,600 Accounts payable $ 2,200 Common stock $ 5,000 Retained earnings 2 The beginning balance of retained earnings was $32,000, net income is budgeted to be $16.300 and vidends are buted to be $2700 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 Cunent assets 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 Total stockholders' equity Total liabilities and stockholders' equity 0 0 S