Reference no: EM132510271

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                          $ 10,100
Supplies inventory                             $ 4,600
Equipment                                        $ 44,000
Accumulated depreciation                   $ 17,800
Accounts payable                              $ 3,800
Common stock                                    $ 5,000
Retained 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:

Question 1: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.)