Exercise 8-9 (Static) Budgeted Balance Sheet [LOB-10] Mecca Copy, a photocopying center located on University Avenue, provided the following data to prepare a budgeted balance sheet for next year: Ending Balances Cash ? Accounts receivable S 3,100 Supplies inventory S 3,200 Equipment $ 34,000 Accumulated depreciation $ 16,000 Accounts payable S 1,800 Common stock $ 5,000 Retained earnings ? 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. Required: Prepare the company's budgeted balance sheet. Note: Amounts to be deducted should be indicated by a minus sign. Assets Current assets: Total current assets Plant and equipment: Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Stockholders' equity: Total stockholders' equity Total liabilities and stockholders' equity