The adjusted trial balance for Pharoah Paints Ltd. at December 31, 2021, is presented below. Pharoah's income tax rate is 25% and journal entries for income tax expense have not yet been prepared. There were no common share transactions during the year. PHAROAH PAINTS LTD. Adjusted Trial Balance December 31, 2021 Debit Credit $45,881 $29,800 20,412 122,220 0 6,600 357,000 151,200 12,600 214,200 6,300 Accounts payable Accounts receivable Accumulated depreciation equipment Accumulated depreciation-building Accumulated other comprehensive income (loss) January 1, 2021 Advertising expense Building Cash Cash dividends-common Common shares (15,120 issued) Contributed surplus-reacquisition of common shares Cost of goods sold Depreciation expense Dividends payable Equipment Gain on sale of equipment Income tax expense Income tax payable Interest expense Merchandise inventory Office expense Other comprehensive income-holding loss on equity investment (before income tax) Retained earnings- January 1, 2021 Sales 346,080 24,360 840 79,800 714 0 0 3,906 70,106 9,240 4,536 29,461 655,200 $1,095,228 $1,095,228 PHAROAH PAINTS LTD. Statement of Comprehensive Income