XERCISE 9-9 Budgeted Balance Sheet [LO9-10]

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....................... $8,100 Supplies inventory......................... $3,200 Equipment................................... $34,000 Accumulated depreciation.............. $16,000 Accounts payable.......................... $1,800 Common stock............................. $5,000 Retained earnings........................ ?

The beginning balance of retained earnings was $28,000, net income is budgeted to be $11,500, and dividends are budgeted to be $4,800.

Required:

Prepare the company's budgeted balance sheet.