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	$	8,200
Supplies inventory	$	3,200
Equipment	$	34,500
Accumulated depreciation	$	14,000
Accounts payable	$	1,900
Common stock	$	5,000
Retained earnings		?

The beginning balance of retained earnings was $29,000, net income is budgeted to be $12,700, and dividends are budgeted to be $2,500.