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. Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings Ending Balances ? $8,100 $ 3,200 $ 34,000 $16,000 $ 1,800 $ 5,000 The beginning balance of retained earnings was $28,000, net income is budgeted to be $11,500, and dividends are budgeted to be $4,800 Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Answer is not complete. Mecca Copy Budgeted Balance Sheet Assets Current assets: Cash $ 12,200 Accounts receivable 8,100 Supplies inventory 3,200 Equipment 34,000 x Accumulated depreciation (18,000) Total current assets $ 39,500 Plant and equipment: Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Stockholders' equity: Common stock Retained earnings 5,000 34,700 0 $ 39,500 S 1,800 Total stockholders' equity Total liabilities and stockholders' equity 39,700 $ 41,500