Prepare Wells Technical Institute's income statement for the year. WELLS TECHNICAL INSTITUTE Income Statement For Year Ended December 31 Expenses Prepaid insurance Total revenues $ EA x 0 15.545x B Depreciation expense-Equipment 16.582 x 49,743 X Salaries expense 0X Insurance expense 22,803 x Rent expense Teaching supplies expense 0 5,803 Utilities expense 7,254 Advertising expense Depreciation expense-Professional library Total expenses Net income 15,545 102,185 $ 86,731 X Reg 3A Req 3B >