Prepare Wells Technical Institute's income statement for the year.

$\backslash$table$[[$WELLS TECHNICAL INSTITUTE$],[$Income Statement$],[$For Year Ended December $31],[$Revenues$,(,,,],[$Tuition revenue,$(,$$ Training revenue,$,40,261$ X$,,],[],[$Expenses$,,,,,],[$Depreciation expense$-$Equipment,$(,12,285,,],[$Depreciation expense$-$Professional library,$,6,142,,],[$Salaries expense,$(,51,258,,],[$Insurance expense,,,$3,071,,],[$Teaching supplies expense,$(,7,932,,],[$Rent expense,$(,23,320*,,],[$Advertising expense,$(,7,417,,],[$Utilities expense,$(,5,933,,],[],[,,,,],[],[$Net income,,$(,$$$,29,972$ X$]]$