Year-End Analysis of Accounts An analysis of cash records and account balances of Wells, Inc., for 2009 is as follows:

Required:
Determine the amounts that should be included on the 2009 income statement for (1) wages expense, (2) rent revenue, and (3) insurance expense.

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Wages Payable Unearned Rent Prepaid Insurance Paid for wages Received for rent Paid for insurance Account Balances Jan. 1, 2009 $2,600 4,500 100 Account Balances Dec. 31, 2009 $3,000 5,000 120 Cash Received or Paid in 2009 $29,600 12,000 720