The beginning balance of retained earnings was $36,000, net income is budgeted to be $20,500, and dividends are budgeted to be $3,700.

Required:

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

9. 9.09 points Exercise 7-9 Budgeted Balance Sheet CLO7-10) The management of Mecca Copy, a photocopying cente r lo cated on University Avenue as complied the following data to use In preparing its budgeted balance sheetfornext year: Ending Balances Cash Accounts recelvable $10,000 Supplies Inventory 4.400 Equipment $43.500 Accumulated depreciation $17,600 Accounts payable 3,700 Common stock 5.000 Retained earnings The beginning balance ofretained ea was 535.000, ne Income ls budgeted to be 520.500,and rnings dividends are budgeted to be $3.700 Required Prepare the company's budgeted balance sheet (Amounts to be deducted should be indicated by Mecca Copy Budgeted Balance Sheet Current assets. TotalCurrent assets Plant and equipment Pant and equipment net Total assets and Stockholders Equity Llabilitles Current ab 1e5 Stockholders equity Total stockholders equity Totai lab ies and stockin