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 $ 8,400 Supplies inventory $ 4,500 Equipment $ 35,500 Accumulated depreciation $ 14,400 Accounts payable $ 2,100 Common stock $ 5,000 Retained earnings ? The beginning balance of retained earnings was $31,000, net income is budgeted to be $15,100, and dividends are budgeted to be $5,000. Required: Prepare the companys budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.)

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 8,400 Accounts receivable Supplies inventory 4,500 35,500 Equipment 14,400 Accumulated depreciation Accounts payable 2,100 5,000 Common stock Retained earnings The beginning balance of retained earnings was $31,000, net income is budgeted to be $15,100, and dividends are budgeted to be $5,000. 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: Total current assets Plant and equipment Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Stockholders' equity: 0 Total stockholders' equity Total liabilities and stockholders' equity