$\backslash$table$[[\backslash$table$[[$WELLS TECHNICAL INSTITUTE$],[$Unadjusted Trial Balance$],[$December $31]],,],[,$Debit,Credit$],[$Cash$,$$ $34,000,],[$Accounts receivable,$0,],[$Teaching supplies,$8,000,],[$Prepaid insurance,$12,000,],[$Prepaid rent,$3,000,],[$Professional library,$35,000,],[$Accumulated depreciation$-$Professional library,,$ $10,000],[$Equipment$,80,000,],[$Accumulated depreciation$-$Equipment,,$15,000],[$Accounts payable,,$26,000],[$Salaries payable,,$0],[$Unearned revenue,,$12,500],[$Common stock,,$10,000],[$Retained earnings,,$80,000],[$Dividends$,50,000,],[$Tuition revenue,,$123,900],[$Training revenue,,$40,000],[$Depreciation expense$-$Professional library,$0,],[$Depreciation expense$-$Equipment,$0,],[$Salaries expense,$50,000,],[$Insurance expense,$0,],[$Rent expense,$33,000,],[$Teaching supplies expense,$0,],[$Advertising expense,$6,000,],[$Utilities expense,$6,400,],[$Totals$,$$ $317,400,$$ $317,400]]$

Problem $3-3$A $($Static$)$ Part $3$

$3-$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 $$80,000$ 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 $3A$

Req $3$B

Prepare Wells Technical Institute's balance sheet as of December $31.$

Note: Include all halance shept acrounts. even those with zern halances.

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