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 2 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.) Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Mecca Copy Budgeted Balance Sheet Assets Current assets: Cash $ Accounts receivable Supplies inventory 12,200 8,100 32,000 $ 52,300 Total current assets Plant and equipment: 0 $ 52,300 Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Stockholders' equity: 0 Total stockholders' equity Total liabilities and stockholders' equity $ 0