WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 Credit Debit $ 27,396 0 10,536 15,806 2,108 31,610 $ 9,484 97,000 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 Utili es expense Totals 16,861 25,000 0 12,500 19,287 83,000 42,149 107,477 40,040 0 0 50,579 0 23,188 0 7,376 $ 313,649 $313,649 Prepare Wells Technical Institute's statement of retained earnings for the year. The Retained Earnings account balance was $83,000 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 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