Exercise $8-9($Algo$)$ Budgeted Balance Sheet $[$L$08-10]$

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:

$\backslash$table$[[,$Ending$],[$Balances$,]]$

The beginning balance of retained earnings was $$33,000,$ net income is budgeted to be $$16,900,$ and dividends are budgeted to be $$3,500.$

Required:

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

$\backslash$table$[[$Mecca Copy,$],[$Assets$,],[$Current assets:,,$],[,,],[,,],[,,],[,,],[$Total current assets,,$],[$Plant and equipment:,,$],[,,],[,,],[$Plant and equipment, net,,$],[$Total assets,,$],[$Liabilities and Stockholders' Equity,,$],[$Current liabilities:,,$],[,,],[$Stockholders$\text{'}$ equity:,,$],[,,],[,,],[,,],[,,],[,,]]$