no adjusted trial balance provided

Question #1: 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. Its unadjusted trial balance as of December 31, 2016, follows. Required:Prepare Wells a) Income Statement, b) Statement of Retained Earnings, and c) Balance Sheet for the year ended 2016. Credit $ 10,000 80,000 15,000 26,000 WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2016 Debit 3 Cash $ 34,000 Accounts receivable Teaching supplies 8.000 Prepaid insurance 12,000 Prepaid rent 3,000 Professional library 35,000 Accumulated depreciation --Professional library to Equipment 1 Accumulated depreciation-Equipment 12 Accounts payable 13 Salaries payable 14 Unearned training fee 15 Common stock Retained earnings 17 Dividends 50,000 10 Tuition fees earned 10 Training fees earned 20 Depreciation expense-Professional library 21 Depreciation expense-Equipment 22 Salaries expense 50,000 Insurance expense 0 24 Rent expense 33,000 25 Teaching supplies expense 20 Advertising expense 6,000 27 Utilities expense 6.400 20 Totals $ 317,400 0 12,500 10,000 80,000 123,900 40,000 O $317.400