Required information [The following information applies fo the questions disployed below] Wells Technical institute (WTi), a school owned by Tristana Wells, provides training to indlviduals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepaid expenses and uneamed revenues in balance sheet accounts. Its unadjusted trial balance as of December 31 follows, along with descriptions of items a through h thet recuire adjusting entries on December 31. Additional Information Items a. An analysis of WTi's insurance policles shows that $3.071 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,662 are avallable at year-end. c. Annual depreciation on the equipment is $12,285. d. Annual depreciation on the professionsl library is $5,142. e. On September 1, WTI agreed to do five courses for a client for $2,900 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 $14,500 cash in adtuance for all fiwe courses cn September 1 , and WTI credited Unearned Rewenue. f. On October 15, WTI agreed to teach a four-menth class (beginning immediately) for an executive with payment due at the end of the class. At December 31,$7,850 of the tuition revenue has been earned by WTL. g. WT''s two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $100 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December. 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 $B4,000 on December 31 of the prior year. 3-c. Prepare Wells Technical Institute's balance sheet as of December 3. Complete this question by entering your answers in the tabs below. Prepare Weis Technical Institute's income statement for the vear. 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. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted 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 $3,071 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,662 are avallable at year-end. c. Annual depreciation on the equipment is $12,285. d. Annual depreciation on the professional library is $6,142. e. On September 1 , WTI agreed to do five courses for a client for $2,900 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 $14,500 cash in advance for all five courses on September 1 , and WTI credited Unearned Revenue. 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,$7,850 of the tuition revenue has been earned by WTI. g. 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 day for each employee. h. The balance in the Prepaid Rent account represents rent for December. 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 $84,000 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. Prepare Wells Technical Institute's statement of retained earnings for the year. The Retained Earnings account balance was $84,000 on December 31 of the prior year. Required information IThe foiowing information appies to the questions disolayeo below] Wells Technical Institute [WTIh a school owned by Tristana Wells, provides training to individuals who poy tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepyid expenses and uneamed rewnnums in balance shaet accounts. its unndjusted trial talance as of December 31 follows, along with descriptions of items a through h thet require adjusting enties on December 31. Additional Information Items a. An analyals of WTI's insurance policies shows that \$3,071 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,662 are avelable et yeer-end. c. Arnual deprecation cn the equipment is $12,285. d. Annual deprec ation on the protessional library is $6,142. e. On September 1 , WTI egreed to do five courses for a cient for $2,900 esch. Two courses will stert immediately and finish bafore the end of the year. Three courses will not begin until next yoar. The client paid $14,500cash in advance for al five courses on September 1, and WTI credited Uneamed Revenue. f. On Octaber 15, WTI agreed to teach a four-month class (beginning immediately) for an ewecutive with payment due an the end of the class. At December 31,$7,850 of the tultion rewenue has been earned by WTL. g. WTis two employees are peid weekly. As of the end of the year, two deys' salaries heve accrued at the rate of $100 per day for each employse. h. The balance in the Prepaid Rent account represents rent for December. 3-a. Prepere Wels Technical Institute's incone statement for the year. 3-b. Prepare Wells Technical Institute' statement of retained earnings for the year. The Retained Eamings zecount balance was $84,000 on December 31 of the pvioryear. 3-c. Prepare Wells Technicel Institute's balence sheet as of December 31. Complete this question by entering your answers in the tabs below. Prepare WWlls Techoical Institute's balance shewt as of December 31. Include all balance sheat accourts, fven these with zara balances. Required information [The following information applies fo the questions disployed below] Wells Technical institute (WTi), a school owned by Tristana Wells, provides training to indlviduals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepaid expenses and uneamed revenues in balance sheet accounts. Its unadjusted trial balance as of December 31 follows, along with descriptions of items a through h thet recuire adjusting entries on December 31. Additional Information Items a. An analysis of WTi's insurance policles shows that $3.071 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,662 are avallable at year-end. c. Annual depreciation on the equipment is $12,285. d. Annual depreciation on the professionsl library is $5,142. e. On September 1, WTI agreed to do five courses for a client for $2,900 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 $14,500 cash in adtuance for all fiwe courses cn September 1 , and WTI credited Unearned Rewenue. f. On October 15, WTI agreed to teach a four-menth class (beginning immediately) for an executive with payment due at the end of the class. At December 31,$7,850 of the tuition revenue has been earned by WTL. g. WT''s two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $100 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December. 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 $B4,000 on December 31 of the prior year. 3-c. Prepare Wells Technical Institute's balance sheet as of December 3. Complete this question by entering your answers in the tabs below. Prepare Weis Technical Institute's income statement for the vear. 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. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted 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 $3,071 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,662 are avallable at year-end. c. Annual depreciation on the equipment is $12,285. d. Annual depreciation on the professional library is $6,142. e. On September 1 , WTI agreed to do five courses for a client for $2,900 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 $14,500 cash in advance for all five courses on September 1 , and WTI credited Unearned Revenue. 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,$7,850 of the tuition revenue has been earned by WTI. g. 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 day for each employee. h. The balance in the Prepaid Rent account represents rent for December. 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 $84,000 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. Prepare Wells Technical Institute's statement of retained earnings for the year. The Retained Earnings account balance was $84,000 on December 31 of the prior year. Required information IThe foiowing information appies to the questions disolayeo below] Wells Technical Institute [WTIh a school owned by Tristana Wells, provides training to individuals who poy tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepyid expenses and uneamed rewnnums in balance shaet accounts. its unndjusted trial talance as of December 31 follows, along with descriptions of items a through h thet require adjusting enties on December 31. Additional Information Items a. An analyals of WTI's insurance policies shows that \$3,071 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,662 are avelable et yeer-end. c. Arnual deprecation cn the equipment is $12,285. d. Annual deprec ation on the protessional library is $6,142. e. On September 1 , WTI egreed to do five courses for a cient for $2,900 esch. Two courses will stert immediately and finish bafore the end of the year. Three courses will not begin until next yoar. The client paid $14,500cash in advance for al five courses on September 1, and WTI credited Uneamed Revenue. f. On Octaber 15, WTI agreed to teach a four-month class (beginning immediately) for an ewecutive with payment due an the end of the class. At December 31,$7,850 of the tultion rewenue has been earned by WTL. g. WTis two employees are peid weekly. As of the end of the year, two deys' salaries heve accrued at the rate of $100 per day for each employse. h. The balance in the Prepaid Rent account represents rent for December. 3-a. Prepere Wels Technical Institute's incone statement for the year. 3-b. Prepare Wells Technical Institute' statement of retained earnings for the year. The Retained Eamings zecount balance was $84,000 on December 31 of the pvioryear. 3-c. Prepare Wells Technicel Institute's balence sheet as of December 31. Complete this question by entering your answers in the tabs below. Prepare WWlls Techoical Institute's balance shewt as of December 31. Include all balance sheat accourts, fven these with zara balances