Cash Accounts receivable Teaching supplies Debit $26,793 e Credit 10,304 Prepaid insurance: 15,458 Prepaid rent 2,062 Professional library 30,913 Accumulated depreciation-Professional library $ 9,275 Equipment 98,000 Accumulated depreciation-Equipment 16,489 Accounts payable 22,000 Salaries payable 0 Unearned revenue 13,500 T. Wells, Capital T. Wells, Withdrawals Tuition revenue Training revenue Depreciation expense-Professional library Depreciation expense-Equipment Salaries expense Insurance expense 104, 3511 41,220 105, 108 39,158 0 Rent expense Teaching supplies expense Advertising expense Utilities expense Totals 49,464 22,682 7,214 5,771 $309,881 $309,881 Problem 3-3A (Algo) Part 3 3-a. Prepare Wells Technical Institute's Income statement for the year. 3-b. Prepare Wells Technical Institute's statement of owner's equity for the year. The T. Wells, Capital account balance was $104,351 on December 31 of the prior year, and there were no owner investments in the current year. 3-c. Prepare Wells Technical Institute's balance sheet as of December 31.