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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 BalancesCash ?Accounts receivable $ 10,100Supplies inventory $ 4,600Equipment $ 44,000Accumulated depreciation $ 17,800Accounts payable $ 3,800Common stock $ 5,000Retained earnings ?
The beginning balance of retained earnings was $37,000, net income is budgeted to be $21,700, and dividends are budgeted to be $4,300.
Required:
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