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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 $ 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.)

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