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 $37,000, net income is budgeted to be $21,700, and dividends are budgeted to be $4,300 Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ Assets } & & \\ \hline Current assets: & & \\ \hline Cash & & \\ \hline Accounts receivable & & \\ \hline Supplies inventory & & \\ \hline & & \\ \hline & & \\ \hline Total current assets & & \\ \hline Plant and equipment: & & \\ \hline Equipment & & \\ \hline Accumulated depreciation & & \\ \hline Plant and equipment, net & & \\ \hline Total assets & & \\ \hline \multicolumn{1}{|c|}{ Liabilities and Stockholders' Equity } & \\ \hline Total liabilities and stockholders' equity & & \\ \hline Current liabilities: & & \\ \hline Accounts payable & & \\ \hline Stockholders' equity: & \\ \hline Common stock & & \\ \hline Retained earnings & \\ \hline \hline & & \\ \hline \hline & & \\ \hline \hline \end{tabular}