$\backslash$table$[[$WELLS TECHNICAL INSTITUTE$],[$Balance Sheet$],[$December $31],[$Assets$],[$Accounts receivable,,$$,7,500],[$Teaching supplies,grad,,,$2,800],[$Prepaid rent,,,$0],[$Prepaid insurance,,,$9,600],[$Cash$,,,34,000],[$Professional library,$$35,000,,],[$Accumulated depreciation$-$Professional library,$17,200,,17,800],[$Equipment$,80,000,,],[$Accumulated depreciation$-$Equipment,$28,200,,51,800],[$Total assets,,$$,123,500],[$Liabilities$],[$Accounts payable,,$$,26,000],[$Salaries payable,,,$400],[$Unearned revenue,,,$7,500],[,,,0,],[,,,33,900,],[$Equity$],[$T$.$ Wells, Capital,,,$89,600],[,,,0,],[$Total liabilities and equity,,$$,123,500]]$