The adjusted trial balance for China Tea Company at December 31, 2012, is presented below:

Prepare an income statement for China Tea Company for the year ended December 31, 2012

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Accounts Debit 11,000 150,000 Credit Accounts receivable Prepaid rent Supplies Equipment 5,000 25,000 300,000 S 135,000 20,000 4,000 1,000 depreciation Accounts payable Salaries payable Interest payable Notes payable (due 30,000 in two years) Common stock 200,000 Retained earnings 50,000 20,000 Service revenue Salaries expense Advertising expense Rent expense Depreciation expense Interest expense Utilities expense 400,000 180,000 70,000 15,000 30,000 2,000 32,000 Totals si 840,000 $ 840,000