final examination part ce help sav the adjusted trial balance for china tea company at december 31, 2018, is presented below 7 cash accounts receivable prepaid rent 11,580 160,00e 6,809 35,800 408,888 inventory equipnent accumulated depreciation 135,800 accounts payable 48,888 48,809 5,808 2,880 258,809 72,800 ee,88e notes payable due in three sonths salaries payable interest payable comson stock retained earnings sales revenue costs of goods sold salaries expense rent expense dopreciation expense interest expense advertising expense 238,880 130,888 25,008 48,800 3,800 3,580 totals 1,844,088 1,844,888 < prev 7 of s9 enext> o type here to search it

The adjusted trial balance for China Tea Company at December 31, 2021, is presented below:

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

Prepare an income statement for China Tea Company for the year ended December 31, 2021:

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.)

Prepare the closing entries for China Tea Company for the year ended December 31, 2021. (If no entry is required for a transaction/event, select “No journal entry required” in the first account field.)