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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

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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 for next year The beginning balance of retained earnings was $28,000, net income is budgeted to be $17,800, and dividends are budgeted to be $3,700 Required: Prepare the company's budgeted balance sheet Note: Amounts to be deducted should be indicoted by a minus sign. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Merca Copy } \\ \hline \multicolumn{3}{|c|}{ Budgeted Balance Sheet } \\ \hline Assets & + & \\ \hline Current assets: & & 1 \\ \hline+ & & + \\ \hline & & \\ \hline & & 8 \\ \hline & & \\ \hline 7 & & \\ \hline Total current assets & & s \\ \hline Plant and equipment & & \\ \hline & & c \\ \hline & & \\ \hline Plant and equipment, net & & 0 \\ \hline Total assets & & $0 \\ \hline Liabilities and Stockhol & & \\ \hline Current liablities: & & \\ \hline & & \\ \hline Stockholders' equity: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total stockholders' equity & & 0 \\ \hline Total liabilities and stockholders' equity & & $ \\ \hline \end{tabular}

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