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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

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 $ 9,100
Supplies inventory $ 2,600
Equipment $ 39,000
Accumulated depreciation $ 15,800
Accounts payable $ 2,800
Common stock $ 5,000
Retained earnings ?

The beginning balance of retained earnings was $27,000, net income is budgeted to be $16,600, and dividends are budgeted to be $3,100.

Required:

Prepare the companys budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.)

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