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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 $ 8,900
Supplies inventory $ 5,500
Equipment $ 38,000
Accumulated depreciation $ 15,400
Accounts payable $ 2,600
Common stock $ 5,000
Retained earnings ?

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 companys budgeted balance sheet.

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