Exercise 8-9 (Static) 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	$ 8,100
Supplies inventory	$ 3,200
Equipment	$ 34,000
Accumulated depreciation	$ 16,000
Accounts payable	$ 1,800
Common stock	$ 5,000
Retained earnings	?

The beginning balance of retained earnings was $28,000, net income is budgeted to be $11,500, and dividends are budgeted to be $4,800.

Required:

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