Question
Saved The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Cash Accounts receivable Prepaid rent Debit 11,300 Credit
Saved The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Cash Accounts receivable Prepaid rent Debit 11,300 Credit 158,000 5,800 Inventory 33,000 Equipment 380,000 equipment months Accumulated depreciation- Accounts payable Notes payable-due in three Salaries payable 133,000 38,000 38,000 4,800 Interest payable 13,100 Common stock 240,000 Retained earnings 67,600 Dividends 67,700 Sales revenue 480,000 Costs of goods sold 220,000 Salaries expense 128,000 Rent expense 23,000 Depreciation expense 38,000 Interest expense 2,800 Advertising expense 3,300 Totals 1,015,200 1,014,500 Required: Prepare an income statement for China Tea Company for the year ended December 31, 2021.
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