The management of Classic Copy, a photocopying centre located on College Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year: Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common shares Retained earnings Ending Balances ? $ 9,000 3,000 34,000 16,000 2,000 5,000 ? The beginning balance of retained earnings was $28,000, net income is budgeted to be $12,000, and dividends are budgeted to be $5,000. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated with minus sign.) Classic Copy Budgeted Balance Sheet Current assets: Total current assets Dlant and coinm. Assets $ 0 Current assets: Total current assets Plant and equipment: Classic Copy Budgeted Balance Sheet Assets $ 0 Plant and equipment, net 0 Total assets $ 0 Liabilities and Shareholders' Equity Current liabilities: Shareholders' equity: Total shareholders' equity 0 Total liabilities and shareholders' equity $ 0