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 $ 10,100

Supplies inventory $ 4,600

Equipment $44,000

Accumulated depreciation $ 17,800

Accounts payable $ 3,800

Common stock $ 5,000

Retained earnings ?

The beginning balance of retained earnings was $37,000, net income is budgeted to be $21,700, and dividends are budgeted to be $4,300.

Required:

Prepare the company's budgeted balance sheet.(Amounts to be deducted should be indicated by aminus sign.) please show me set by step how to do this problem. I am very confused with this chapter