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The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Credit Debit $16,000 154,00 7,000 26,000 380,000 Accounts Cash Accounts

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The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Credit Debit $16,000 154,00 7,000 26,000 380,000 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 Totals $127,000 13,000 3,400 1,200 30,000 170,000 173, 900 21,000 420,000 183,000 71,800 11,000 31,808 2,500 36,800 S 938,500 5938,500 Prepare a classified balance sheet for China Tea Company as of December 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) CHINA TEA COMPANY Balance Sheet As of December 31, 2021 Liabilities and Stockholders' Equity Current liabilities: Assets Current assets: Total current habilities $ 0 Total liabilities 0 $ 0 Stockholders' Equity Total current assets Long-term assets 0 Total long-term assets 0 Total stockholders' equity Total liabilities and stockholders equity $ Total assets 5 0

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