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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 $ 9,500 Supplies inventory $ 3,400 Equipment $ 41,000 Accumulated depreciation $ 16,600 Accounts payable $ 3,200 Common stock $ 5,000 Retained earnings ? The beginning balance of retained earnings was $31,000, net income is budgeted to be $21,400, and dividends are budgeted to be $3,900. Required: Prepare the companys budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.)

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