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

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 $ 9,000
Supplies inventory $ 2,400
Equipment $ 38,500
Accumulated depreciation $ 15,600
Accounts payable $ 2,700
Common stock $ 5,000
Retained earnings ?

The beginning balance of retained earnings was $26,000, net income is budgeted to be $15,400, and dividends are budgeted to be $5,400.

Required:

Prepare the company’s budgeted balance sheet.

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