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 $32,000, net income is budgeted to be $16,300, and dividends are budgeted to be $2,700.
Prepare the company’s budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.)
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