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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: Ending Balances Cash Accounts receivable $9,800 Supplies inventory $4,000 42.500 Equipment Accumulated depreciation $17,200 Accounts payable $3,500 Common stock $5,000 Retained earnings The beginning balance of retainer ings was $34,000, net income is budgeted to be $18,100, and dividends are budget to be $4,100. Budgeted Balance Sheet Assets Current assets Accounts payable Supplies inventory Equipment Total current assets Plant and equipment Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity

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