Enabled: Exam 1- Chapters 1 & 2 1 The adjusted trial balance for China Tea Company at December 31, 2024, is presented below: Debit Credit Cash $ 10, 800 Accounts receivable 153 , 000 Prepaid rent 5 , 300 Inventory 28, 000 Equipment 330,000 Accumulated depreciation $ 128, 006 Accounts payable 33,090 Notes payable (due in three months ) 33,000 Salaries payable 4, 300 Interest payable 10,606 Common stock 215,000 Retained earnings 56, 600 Dividends 9 , 300 Sales revenue 430,000 Costs of goods sold 195,600 Salaries expense 123 , 000 Rent expense 18, 000 Depreciation expense 33, 090 Interest expense 2 , 300 Advertising expense 2 , 800 Totals $ 910, 500 $ 910, 500 Required: Prepare a classified balance sheet for China Tea Company as of December 31, 2024. Note: Amounts to be deducted should be indicated by a minus sign. CHINA TEA COMPANY Balance Sheet At December 31, 2024 Assets Prev