Homework answers / question archive / The adjusted trial balance for China Tea Company at December 31, 2021, is presented below:   Debit Credit Cash   12,400         Accounts receivable   169,000         Prepaid rent   6,900         Inventory   44,000         Equipment   490,000         Accumulated depreciation—equipment         144,000   Accounts payable         49,000   Notes payable—due in three months         49,000   Salaries payable         5,900   Interest payable         18,600   Common stock         295,000   Retained earnings         91,800   Dividends   88,600         Sales revenue         590,000   Costs of goods sold   275,000         Salaries expense   139,000         Rent expense   34,000         Depreciation expense   49,000         Interest expense   3,900         Advertising expense   4,400         Totals   1,245,100     1,243,300     Required: Prepare an income statement for China Tea Company for the year ended December 31, 2021

The adjusted trial balance for China Tea Company at December 31, 2021, is presented below:   Debit Credit Cash   12,400         Accounts receivable   169,000         Prepaid rent   6,900         Inventory   44,000         Equipment   490,000         Accumulated depreciation—equipment         144,000   Accounts payable         49,000   Notes payable—due in three months         49,000   Salaries payable         5,900   Interest payable         18,600   Common stock         295,000   Retained earnings         91,800   Dividends   88,600         Sales revenue         590,000   Costs of goods sold   275,000         Salaries expense   139,000         Rent expense   34,000         Depreciation expense   49,000         Interest expense   3,900         Advertising expense   4,400         Totals   1,245,100     1,243,300     Required: Prepare an income statement for China Tea Company for the year ended December 31, 2021

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

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