Sorry this long question. These 3 questions are all connected and have multiple parts.

Required information The following information applies to the questions displayed below.) Wells Technical Institute (WTO) 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 available 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 training courses for a client for $2.500 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 $12,500 cash in advance for all five training 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, $8,850 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. TH balance in the Prepaid Rent account represents rent for December. WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 Credit Debit $ 27 245 10, 478 15,719 2,097 31,436 $ 9,432 98,000 Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation-Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned revenue Common stock Retained earnings Dividends Tuition revenue Training revenue Depreciation expense-Professional library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals 16,768 22,000 0 12,500 27,957 79,000 41, 916 106,885 39,820 50, 300 23,067 voooo So 7,336 5.868 $3:13,462 DE $ B18,462 Required: 1. Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting entries are made only at year-end. Cash Equipment Unadjusted Balance Unadjusted Balance Adjusted Balance 0 Adjusted Balance 10 Accounts Receivable Accumulated Depreciation Equipment Unadjusted Balance Unadjusted Balance Adjusted Balance 0 Adjusted Balance 0 Teaching Supplies Accounts Payable Unadjusted Balance Unadjusted Balance Adjusted Balance 0 Adjusted Balance 0 Prepaid Insurance Salaries Payable Unadjusted Balance Unadjusted Balance Adjusted Balance 0 Adjusted Balance 0 Prepaid Rent Unearned Revenue Unadjusted Balance Unadjusted Balance Adjusted Balance Adjusted Balance 0 Professional Library Common Stock of 3 Unadjusted Balance Unadjusted Balance Adjusted Balance 0 Adjusted Balance 0 Retained Earnings . Accumulated Depreciation Professional Library Unadjusted Balance Unadjusted Balance ok nt 0 Adjusted Balance Adjusted Balance 0 Tuition Revenue Dividends ences Unadjusted Balance Unadjusted Balance Adjusted Balance Adjusted Balance 0 Training Revenue Rent Expense Unadjusted Balance Unadjusted Balance Adjusted Balance 0 Adjusted Balance 0 Teaching Supplies Expense Depreciation Expense Professional Library Unadjusted Balance Unadjusted Balance Adjusted Balance 0 Adjusted Balance 0 Advertising Expense Depreciation Expense-Equipment Unadjusted Balance Unadjusted Balance 0 0 Adjusted Balance Adjusted Balance Salaries Expense Utilities Expense Unadjusted Balance Unadjusted Balance ES Adjusted Balance Adjusted Balance Insurance Expense Unadjusted Balance Adjusted Balance 0 Req 2B > WELLS TECHNICAL INSTITUTE Adjusted Trial Balance December 31 Debit Credit Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned revenue Common stock Retained earnings Dividends Tuition revenue Training revenue Depreciation expense Professional library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals $ 0 $ 0 Reg 3A Reg 3B Reg 30 Prepare Wells Technical Institute's income statement for the year. WELLS TECHNICAL INSTITUTE Income Statement For Year Ended December 31 GA $ 0 0 Hea Req3B Complete this question by entering your answers in the tabs below. Reg 3A Reg 3B Req 30 Prepare Wells Technical Institute's statement of retained earnings for the year. The Retained Earnings account balance was $79,000 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 current year end 0 Req Reg 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 0 0 $ 0 0 $