The management of Academic Copy, a photocopying center located on University Avenue, has

The management of Academic 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	$	6,500
Supplies inventory	$	2,100
Equipment	$	28,000
Accumulated depreciation	$	9,000
Accounts payable	$	1,900
Common stock	$	4,000
Retained earnings		?

The beginning balance of retained earnings was $21,000, net income is budgeted to be $8,600, and dividends are budgeted to be $3,500.

Required:

Prepare the company’s budgeted balance sheet. (Be sure to list the assets and liabilities in order of their liquidity. Amounts to be deducted should be indicated with minus sign. Omit the "$" sign in your response.)

Academic Copy Budgeted Balance Sheet
Assets
Current assets:
Cash	$ 4,400
Accounts receivable	6,500
Supplies inventory	2,100
Total current assets		$ 13,000
Plant and equipment:
Equipment	28,000
Accumulated depreciation	-9,000
Plant and equipment, net		19,000
Total assets		$ 32,000
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable		$ 1,900
Stockholders' equity:
Common stock	4,000
Retained earnings	26,100
Total stockholders' equity		30,100
Total liabilities and stockholders' equity		$ 32,000