Hello,

Please review the balance sheet and correct it if necessary. I am missing something but the amount of total liabilities and share's holder's equity not as same as the total asset.

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

	Debit			Credit
Cash		11,900
Accounts receivable		164,000
Prepaid rent		6,400
Inventory		39,000
Equipment		440,000
Accumulated depreciationequipment					139,000
Accounts payable					44,000
Notes payabledue in three months					44,000
Salaries payable					5,400
Interest payable					16,100
Common stock					270,000
Retained earnings					80,800
Dividends		13,700
Sales revenue					540,000
Costs of goods sold		250,000
Salaries expense		134,000
Rent expense		29,000
Depreciation expense		44,000
Interest expense		3,400
Advertising expense		3,900
Totals		1,139,300			1,139,300

Required: Prepare a classified balance sheet for China Tea Company as of December 31, 2021.

CHINA TEA COMPANY
Balance Sheet
At December 31, 2021
Assets
Current assets
Cash		$11,900
Accounts receivable		164,000
Inventory		39,000
Prepaid rent		6,400
Total current assets		221,300
Property and equipment
Equipment		440,000
Accumulated depreciation		(139,000)
Total assets		$522,300
Liabilities and Shareholders' Equity
Current liabilities
Accounts payable		$44,000
Notes payable		44,000
Salaries payable		5,400
Interest payable		16,100
Total current liabilities		109,500
Shareholders' equity
Common stock	$270,000
Retained earnings	80,800
Total shareholders' equity		350,800
Total liabilities and shareholders' equity		$460,300