The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Debit Credit Cash Accounts receivable Prepaid rent 11,500 160,000 6,000 Inventory 35,000 Equipment 400,000 Accumulated depreciation-equipment 135,000 Accounts payable 40,000 Notes payable-due in three months 40,000 Salaries payable 5,000 Interest payable 14,100 Common stock 250,000 Retained earnings 72,000 Dividends Sales revenue 12,100 500,000 Costs of goods sold 230,000 Salaries expense 130,000 Rent expense 25,000 Depreciation expense 40,000 Interest expense 3,000 Advertising expense 3,500 Totals 1,056,100 1,056,100 Required: Prepare a classified balance sheet for China Tea Company as of December 31, 2011. (Amounts to be deducted show by a minus sign.) CHINA TEA COMPANY Balance Sheet At December 31, 2021 Assets < Prev 8 of 15 Next