6)

The adjusted trial balance for China Tea Company at December 31, 2021, is presented below:

Debit Credit

Cash 12,000

Accounts receivable 165,000

Prepaid rent 6,500

Inventory 40,000

Equipment 450,000

Accumulated depreciationequipment 140,000

Accounts payable 45,000

Notes payabledue in three months 45,000

Salaries payable 5,500

Interest payable 16,600

Common stock 275,000

Retained earnings 83,000

Dividends 14,100

Sales revenue 550,000

Costs of goods sold 255,000

Salaries expense 135,000

Rent expense 30,000

Depreciation expense 45,000

Interest expense 3,500

Advertising expense 4,000 _________

Totals 1,160,100 1,160,100

Required:

Construct a classified balance sheet for China Tea Company as of December 31, 2021