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Please help! thank you! The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in preparing

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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: The beginning balance of retained earnings was $34,000, net income is budgeted to be $18,700, and dividends are budgeted to be $5,200. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Prequired \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Budgeted Balance Sheet } \\ \hline \multicolumn{2}{|l|}{ Assets } & & \\ \hline \multicolumn{4}{|l|}{ Current assets: } \\ \hline Cash & & $56,100 & \\ \hline Accounts receivable & ( ) & 8,700 & \\ \hline \multirow[t]{2}{*}{ Supplies inventory } & ( & 5,100 & \\ \hline & & & \\ \hline \multicolumn{2}{|l|}{ Total current assets } & & $69,900 \\ \hline \multicolumn{2}{|l|}{ Plant and equipment: } & & \\ \hline Accumulated depreciation & & (15,000) & \\ \hline \multicolumn{2}{|l|}{ Plant and equipment, net } & & (15,000) \\ \hline \multicolumn{2}{|l|}{ Total assets } & & $54,900 \\ \hline \multicolumn{3}{|c|}{ Liabilities and Stockholders' Equity } & - \\ \hline \multicolumn{2}{|l|}{ Current liabilities: } & & \multirow[b]{2}{*}{$2,400} \\ \hline Accounts payable & & & \\ \hline \multicolumn{4}{|l|}{ Stockholders' equity: } \\ \hline Common stock & 25 & 5,000 & \\ \hline Retained earnings & 0 & 47,500 & \\ \hline Total stockholders' equity & & & 52,500 \\ \hline Totalliabilitiesandstockholder:equity & & & $54,900 \\ \hline \end{tabular}

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