Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Unadjusted Trial Balance December 31 Professional library...

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Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Unadjusted Trial Balance December 31 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 Debit Credit $ 27,094 0 10,420 15,632 4 2,085 31,262 103,000 $ 9,380 16,675 27,000 0 14,500 21,818 82,000 41,684 106,293 39,599 0 0 50,022 0 22,935 0 7,295 5,836 $ 317,265 $ 317,265 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 $82,000 on December 31 of the prior year. 3-c. Prepare Wells Technical Institute's balance sheet as of December 31. Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Unadjusted Trial Balance December 31 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 Debit Credit $ 27,094 0 10,420 15,632 4 2,085 31,262 103,000 $ 9,380 16,675 27,000 0 14,500 21,818 82,000 41,684 106,293 39,599 0 0 50,022 0 22,935 0 7,295 5,836 $ 317,265 $ 317,265 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 $82,000 on December 31 of the prior year. 3-c. Prepare Wells Technical Institute's balance sheet as of December 31.