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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: The beginning balance of retained earnings was $25,000, net income is budgeted to be $21,100, and dividends are budgeted to be $3,500 Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Total current assets Plant and equipment: Stockholders" equity: \begin{tabular}{|l|l|l|} \hline & & \\ \hline Total stockholders' equity & & \\ \hline Total liabilities and stockholders' equity & & \\ \hline \end{tabular}