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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

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:
Ending Balances
Cash ?
Accounts receivable $ 8,800
Supplies inventory $ 5,300
Equipment $ 37,500
Accumulated depreciation $ 15,200
Accounts payable $ 2,500
Common stock $ 5,000
Retained earnings ?
The beginning balance of retained earnings was $35,000, net income is budgeted to be $19,900, and dividends are budgeted to be $2,900.
Required:
Prepare the companys budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.)

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