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. Req 3A Tuition revenue Training revenue Total revenues Prepare Wells Technical Institute's income statement for the year. Expenses Req 3B Salaries expense Insurance expense Advertising expense Rent expense Utilities expense Total expenses Req 3C Depreciation expense-Professional library Depreciation expense-Equipment Net income X Answer is not complete. WELLS TECHNICAL INSTITUTE Income Statement For Year Ended December 31 33333333 $ Req 3A 106,293 X 39,599 0X 0x 50,022 X 0x 7,295 20,850 X 5,836 $ $ 145,892 84,003 46,343 X Req 3B >

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. Complete this question by entering your answers in the tabs below. Prepare Welis Technical Institute's balance sheet as of December 31 . a. An analysis of WTI's insurance policles shows that $3,864 of coverage has expired. b. An inventory count shows that teaching supplies costing $3.349 are available at year-end. c. Annual depreciation on the equipment is $15,458 d. Annual depreciation on the professional library is $7,729. e. On September 1, WTI agreed to do five training courses for a client for $2,200 each. Two courses wil start Immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $11,000 cash in advance for all five training courses on September 1, and WTI credited Unearned Revenue. f. On October 15, WTl agreed to teach a four-month class (beginning immediately) for an executve with payment due at the end of the class. At December 31,$13,500 of the tuition revenue has been earned by WTI. 9. WTi's two employees are paid weckly. 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 prioryear. 3-c. Prepare Wells Technical Institute's balance sheet as of December 31. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare Wells Technical Institute's income statement for the year