Exercise 8-9 (Static) Budgeted Balance Sheet [LO8-10] Mecca Copy, a photocopying center located on University Avenue, provided the following data to prepare a budgeted balance sheet for next year: Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings Ending Balances ? $ 8,100 $ 3,200 $ 34,000 $ 16,000 $ 1,800 $ 5,000 ? The beginning balance of retained earnings was $28,000, budgeted net income is $11,500, and budgeted dividends are $4,800. Required: Prepare the company's budgeted balance sheet. Note: Amounts to be deducted should be indicated by a minus sign.

Exercise 8-9 (Static) Budgeted Balance Sheet [LO8-10] Mecca Copy, a photocopying center located on University Avenue, provided the following data to prepare a budgeted balance sheet for next year: The beginning balance of retained earnings was $28,000, budgeted net income is $11,500, and budgeted dividends are $4,800. Required: Prepare the company's budgeted balance sheet. Note: Amounts to be deducted should be indicated by a minus sign