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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

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 $ 9,400
Supplies inventory $ 3,200
Equipment $ 40,500
Accumulated depreciation $ 16,400
Accounts payable $ 3,100
Common stock $ 5,000
Retained earnings ?

The beginning balance of retained earnings was $30,000, net income is budgeted to be $20,200, and dividends are budgeted to be $3,300.

Required:

Prepare the companys budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.)

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