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The adjusted trial balance for China Tea Company at December 31, 2018, is presented below: Credit Debit $ 18,000 163,000 6,000 25,000 350,000 Accounts Cash
The adjusted trial balance for China Tea Company at December 31, 2018, is presented below: Credit Debit $ 18,000 163,000 6,000 25,000 350,000 Accounts Cash Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciation Accounts payable Salaries payable Interest payable Notes payable (due in two years) Common stock Retained earnings Dividends Service revenue Salaries expense Advertising expense Rent expense Depreciation expense Interest expense Utilities expense $127,000 10,000 3,900 1,600 34,000 180,000 110,900 28,000 460,000 170,000 77,000 15,000 33,000 2,400 40,000 Totals $927,400 $927,400 Prepare an income statement for China Tea Company for the year ended December 31, 2018: CHINA TEA COMPANY Income Statement For the Year Ended December 31, 2018
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