Business, 12.08.2020 04:01 ronaa

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 $ 8,900 Supplies inventory $ 5,500 Equipment $ 38,000 Accumulated depreciation $ 15,400 Accounts payable $ 2,600 Common stock $ 5,000 Retained earnings ? The beginning balance of retained earnings was $25,000, net income is budgeted to be $21,100, and dividends are budgeted to be $3,500.

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