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 $28,000, net income is budgeted to be $ 11,500 and dividends are budgeted to be $ 4,800

Required:

Prepare the company’s budgeted balance sheet. 

Ending Balances Cash ?? Accounts receivables S8,100 Supplies inventory $3,200 Equipment S34,000 $16,000 Accumulated depreciation Accounts payables $1,800 $5,000 Common stock Retained eamings ??