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The management of Fantastic29, a multi-billion-dollar company located in Winchester, has complied the following data to use in preparing its budgeted balance sheet for next
The management of Fantastic29, a multi-billion-dollar company located in Winchester, has complied the following data to use in preparing its budgeted balance sheet for next year: The beginning balance of retained earnings was $35,000, net income is budgeted to be $19,300, and dividends are budgeted to be $6,000. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ Fantastic29 } \\ \hline \multicolumn{1}{|c|}{ Budgeted Balance Sheet } \\ \hline Current assets: & Assets \\ \hline & & \\ \hline & & \\ \hline Total current assets & & \\ \hline Plant and equipment: & & \\ \hline & & \\ \hline & & \\ \hline Plant and equipment, net & & \\ \hline Total assets & & \\ \hline Total liabilities and stockholders' equity & \\ \hline Current liabilities: & \\ \hline \end{tabular}
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