Exercise 8-9

Exercise 8-9 (Algo) Budgeted Balance Sheet [LO8-10] The management of Mecca Copy, a photocopying center located on University Avenue, has complled the following data to use preparing its budgeted balance sheet for next year: The beginning balance of retained earnings was $29,000, net income is budgeted to be $19,000, and dividends are budgeted to be $5,600 Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) \begin{tabular}{|l|} \hline \\ \hline Plant and equipment, net \\ Total assets \\ \hline Current liabilities: \\ \hline \\ \hline Stockholders' equity: \\ \hline \\ \hline \\ \hline \end{tabular}