PLEASE HELP WITH PROBLEM 4 ASAP PLEASE!!

! Required information [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. Its unadjusted trial balance as of December 31, 2017, follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31, 2017, follow. Additional Information Items 44 a. An analysis of WTI's insurance policies shows that $3,996 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,464 are available at year-end 2017 c. Annual depreciation on the equipment is $15,986. d. Annual depreciation on the professional library is $7,993. e. On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,300, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2018. f. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an individual for $5,561 tuition per month payable at the end of the class. The class started on October 15, but no payment has yet been received. (WTI's accruals are applied to the nearest half-month; for example, October recognizes one-half month accrual.) g. WTI's tw day for each employee. h. The balance in the Prepaid Rent account represents rent for December es aid weekly. A of $100 per ployees are e end the year, two days' e You skipped this question in the previous at WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2017 Debit Credit $ 26,340 Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation-Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned training fees 10,129 15,197 2,027 30,391 $ 9,119 70,903 16,210 36,112 11,500 12,000 52,431 Common stock Retained earnings Dividends 40,523 103,332 38,496 Tuition fees earned Training fees earned Depreciation expense-Professional library Depreciation expense-Equipment Salaries expense 48,628 Insurance expense Rent expense 22, 297 Teaching supplies expense Advertising expense Utilities expense 7,092 5,673 $279, 200 $279,200 Totals Required information 3-a. Prepare Wells Technical Institute's income statement for the year 2017. 3-b. Prepare Wells Technical Institute's statement of owner's equity for the year 2017. 3-c. Prepare Wells Technical Institute's balance sheet as of December 31, 2017. Complete this question by entering your answers in the tabs below. Req 3A Req 3B Req 3C Prepare Wells Technical Institute's income statement for the year 2017. WELLS TECHNICAL INSTITUTE Income Statement For Year Ended December 31, 2017 0 Required information Prepare Wells Technical Institute's income statement for the year 2017. WELLS TECHNICAL INSTITUTE Income Statement For Year Ended December 31, 2017 $ 0 Req 3A Req 3B Req 3C Prepare Wells Technical Institute's statement of owner's equity for the year 2017. WELLS TECHNICAL INSTITUTE Statement of Retained Earnings For Year Ended December 31, 2017 Retained earnings, December 31, 2016 C $ 0 Retained earnings, December 31, 2017 KReq 3A Req 3C WELLS TECHNICAL INSTITUTE Balance Sheet December 31, 2017 0 0 $ C 0 0 Total equity 0 $ 0