I need explanation and solution please and thank you. I work on some of them and can you please check on all the work and the work I did not finish please and thank you.

Required information Problem 3-3A Preparing adjusting entries, adjusted trial balance, and financial statements LO P1, P2, P3, P4, P5, P6 [The following information applies to the questions displayed below. Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off site locations. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjuste trial balance as of December 31 follows along with descriptions of items a through h that require adjusting entries on December 31 Additional Information Items a. An analysis of WTI's insurance policies shows that $3,732 of coverage has expired b. An inventory count shows that teaching supplies costing $3,235 are available at year-end. c. Annual depreciation on the equipment is $14,929, d. Annual depreciation on the professional library is $7,464. e. On September 1, WTI agreed to do five courses for a client for $2,700 each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $13,500 cash in advance for all five courses on September 1, and WTI credited Unearned Training Fees. f. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $11,600 of the tuition has been earned by WTI 9. WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $100 per ences day for each employee. h. The balance in the Prepaid Rent account represents rent for December WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 Credit Debit $ 27,547 Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library 0 10, 594 15, 894 2, 120 31, 784 Accumulated depreciation-Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned training fees Common stock Retained earnings 9, 537 96, 000 16, 954 25, 000 13, 500 20, 527 80, 000 Ces Dividends Tuition fees earned 42, 381 108, 069 Training fees earned Depreciation expense-Professional library Depreciation expense-Equipment Salaries expense. Insurance expense 40, 261 50, 858 Salaries expense 50, 858 Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense 23,320 7,417 5,933 $313, 848 $313,848 Totals Problem 3-3A Part 3 3-a, Prepare Wells Technical Institute's income statement for the year. 3-b. Prepare Wells Technical Institute's statement of retained earnings for the year. The Retained Earnings account balance was $80,000 on December 31 of the prior year, 3-c. Prepare Wells Technical Institute's balance sheet as of December 31 Complete this question by entering your answers in the tabs below. Req 3C Req 3A Reg 38 Prepare Wells Technical Institute's income statement for the year. NOt of 6 Prev E Req 3C Req 3B Req 3A Prepare Wells Technical Institute's income statement for the year. WELLS TECHNICAL IMTITUTE Income Statem ent For Year Ended December 31 Revenues 45.661 $ Training fees earned 119,669 Tuition fees earned 165,330 Total revenues Expenses Depreciation expense-Professional library 7464 14,929 Depreciation expense-Equipment 51 258 Salanes expense 3,732 Tnsurance expense 25,440 Rent expense asa Nex Revenues 45,661 Training fees earned 119,669 Tuition fees earned 165.330 Total revenues Expenses 7.464 Depreciation expense-Professional library 14,929 Depreciation expense Equipment 51 258 Salanes expense 3,732 Insurance expense 25.440 Rent expense Teaching supplies expense: 7,359 ces Advertising expense 7 417 S 933 Utilities expense 123,532 Total expens es 41.798 Net inc ome S Required information Prepare Wells Technical Institute's statement of retained earnings for the year. The Retained Earnings account balance was $80,000 on December 31 of the prior year. WELLS TECHNICAL INSTITUTE Statement of Retained Earnings For Year Ended December 31 80,000 S Retained eamings. December 31 pnor year end 41.798 Add: Net income 121.798 (42.381) Less Dividends S 79.417 Retained eamings, December 31 current year end Req 3C> Req 3A Required information Req 3C Req 3B Req 3A Prepare Wells Technical Institute's balance sheet as of December 31. Include all balance sheet accounts, even those with zero balances. WELLS TECHNICAL INSTITUTE Balance Sheet December 31 Assets 27,547 Cash 11,600 Accounts receivable 3,235 Teaching supplies Prepaid insurarnce Prepaid rent Professional library 31 784 31 784 Accumulated depreciation-Prof essional library 96,000 Equipment Accumulated depreciation-Equipment 96,000 170 166 Required information 170.166 S Liabilities 25,000 Accounts pay able Salaries payable Uneamed training fees 25.000 Equity 20,357 Common stock Retained eamings 20 357 Total equity 45 357 Total liabilities and equity Req 3B