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 The beginning balance of retained earnings was $34,000, net income is budgeted to be $18,100, and dividends are budgeted to be $4,100. Current assets: Ending Balances ? Required: Prepare the company's budgeted balance sheet. Note: Amounts to be deducted should be indicated by a minus sign. Mecca Copy Budgeted Balance Sheet $ 9,800 $ 4,000 $ 42,500 $ 17,200 $ 3,500 $ 5,000 2 Assets

The management of Mecca Copy, a photocopying center located on University Avenue, has complied the following data to use in preparing its budgeted balance sheet for next year The beginning batance of retained earnings was $34,000, net income is budgeted to be $18,100, and dividends are budgeted to be $4,100. Required: Prepare the company's budgeted balance sheet Note: Amounts to be deducted should be indiceted by o minus sign. \begin{tabular}{|c|c|c|} \hline 7 & & \\ \hline & & \\ \hline Total current assets & $ & 0 \\ \hline \multicolumn{3}{|l|}{ Plant and equipment. } \\ \hline & & \\ \hline & & \\ \hline Plant and equipment, net & & 0 \\ \hline Total assets & 5 & 0 \\ \hline \multicolumn{3}{|c|}{ Liabilities and Stockholders' Equity } \\ \hline \multicolumn{3}{|l|}{ Current liabilities: } \\ \hline F & & \\ \hline \multicolumn{3}{|l|}{ Stockholders' equity } \\ \hline \\ \hline & & \\ \hline \multicolumn{3}{|l|}{ Common stock } \\ \hline \multicolumn{3}{|l|}{ Retained earnings. } \\ \hline Total stockholders' equity & & \\ \hline Totarliabilities and stockholders' equity & \$ & (0) \\ \hline \end{tabular} The beginning balance of retained earnings was $34,000, net income is budgeted to be $18,100, and dividends are budgeted to be $4,100 Required: Prepare the company's budgeted balance sheet. Note: Amounts to be deducted should be indicated by a minus sign