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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:

	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		?

Check my work Exercise 8-9 Budgeted Balance Sheet [LO8-10] The management of Mecca Copy, a photocopying center located on University Avenue, has complled the following data to use In preparing its budgeted balance sheet for next year Ending $ ,100 $ 3,20o $ 3,000 Accounts receivable Supplles inventory Equipaant AccunuLated depreciation 16,000 Accounts payable Common stock $ 1,800 $5,000 The beginning balance of retained earnings was $28,0o0, net Income is budgeted to be $11,500, and dividends are budgeted to be S4,800. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be Indicated by a minus sign.) Assots Current assets Cash Accounts rocervable Supplies inventory S 12 200 6.100 3.200 Total current assots S 23,500 Plant and equipment: Plant and equipment, net Total assots S 23,500 Liabilities and StockholderS' Equity Current labiiios Total stockholders oquty Total liabilities and stockholders oquity

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