Required information The following information applies to the questions displayed below) Wells Technical Institute WTA a school owned by Tristana Wells, provides training to individuals who pay tution directly to the school. WTI also offers training to groups in off-site locations. WTI nally records prepaid expenses and unearned revenues in balance sheet accounts. Its unad usted trial balance as of December 31 follows along with descriptions of items a through that require adjusting entries on December 31 Additional Information Items a. An analysis of WTFS insurance cocles shows that $3.500 o' coverage has expired b. An Inventory count shows that teaching Subs cost ng $3120 are available at year-end, c. Annual depreciation on the equipment is $14,400. d. Annual depreciation on the professional library's $7200 e. On September 1 WTI agreed to do five courses for a client for $2.500 each. TWO courses w start mediately and finish before the end of the year, Three Courses will not begin unt next year. The client paid $12.500 cash in advance for all five courses on September 1, and WTI credited Uneamed Training Fees f. On October 15, WTI agreed to teach a four-month class beginning Immediately or an execut ve with payment due at the end of the class. Al December 31, $11.490 of the tult on has been earned by WTL 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 Credit $ 9,171 16,303 27,000 WELLS TECHNICAL INSTITUTE Unad usted Trial Balance December 31 Debit Caah $ 26,491 Accounts receivable Teaching supplies 10,187 Prepaid insurance 15,284 Prepaid rent 2,039 Professional Library 30,565 Accumulated depreciation Professional Library Equipment 99,000 Accumulated depreciation Equipment Accounts payable Salaries payable Unearned training fees Common atoek Retained earnings Dividends 40,755 Tuition fees earned Training fees earned Depreciation expense Professional Library Depreciation expense Equipment Salaries expense 43,907 Insurance expense Rent expense 22,429 Teaching supplies expense Advertising expense 7,132 Utilities expense 5,706 Totals $308,495 12,500 23.se 77,000 103,924 38,717 $308,495 3-a. Prepare Weis Technical Institute's Income statement for the year 3-b. Prepare Weis Technical Institute's statement of retained earnings for the year. The Retained Earnings account balance was $77000 on December 31 of the priorveer 3-c. Prepare Wells Technical Institute's balance sheet as of December 31 Complete this question by entering your answers in the tabs below. Reg 3A Req3B Req 30 Prepare Wells Technical Institute's income statement for the year. WELLS TECHNICAL INSTITUTE Income Statement For Year Ended December 31 Reg SA Req 3B > 3-a. Prepare Wells Technical Institute's Income statement for the year. 3-b. Prepare Weis Technical Institute's statement of retained earnings for the year. The Retained Earnings account balance was $77,000 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 3A Req 3B Reg 30 Prepare Wells Technical Institute's statement of retained earnings for the year. The Retained Earnings account balance was $77,000 on December 31 of the prior year. WELLS TECHNICAL INSTITUTE Statement of Retained Earnings For Year Ended December 31 Retained earnings, December 31 prior year end Retained earnings, December 31 cument year end Req 3A Reg 3C > 3-a. Prepare Wells Technical Institute's Income statement for the year 3-b. Prepare Weis Technical Institute's statement of retained earnings for the year. The Retained Earnings account balance was $77000 on December 31 of the prior year. 3-c. Prepare Weis Technical Institute's balance sheet as of December 31 Complete this question by entering your answers in the tabs below. Reg 3A Req 3B Req 3C 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 (Reg 3B