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The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Credit Debit 12,500 170,000 7,000 45,000 500,000 Cash Accounts receivable
The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Credit Debit 12,500 170,000 7,000 45,000 500,000 Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation equipment Accounts payable Notes payable due in three months Salaries payable Interest payable Common stock Retained earnings Dividends Sales revenue Costs of goods sold Salaries expense Rent expense Depreciation expense Interest expense Advertising expense Totals 145,000 50,000 50,000 6,000 19,100 300,000 94,000 90,500 600,000 280,000 140,000 35,000 50,000 4,000 4,500 1,266,000 1,264,100 Required: Prepare an income statement for China Tea Company for the year ended December 31, 2021. CHINA TEA COMPANY Income Statement For the Year Ended December 31, 2021 Required: Prepare an income statement for China Tea Company for the year ended December 31, 2021. CHINA TEA COMPANY Income Statement For the Year Ended December 31, 2021 Operating expenses Total operating expenses Operating income Other expense
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