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The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the...

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Accounting

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 $ 8,300 Supplies inventory $ 3,200 Equipment $ 35,000 Accumulated depreciation $ 14,200 Accounts payable $ 2,000 Common stock $ 5,000 Retained earnings ? The beginning balance of retained earnings was $30,000, net income is budgeted to be $13,900, and dividends are budgeted to be $3,100. Required: Prepare the companys budgeted balance sheet.

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