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I need a income statement, retained earnings for the year, and balance sheet.

Required Information [The following information applies to the questions displayed below] Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted trial balance as of December 31 follows, along with descriptions of items a through h that require adjusting entries on December 31. Additional Information Items a. An analysis of WTi's insurance policies shows that $3.732 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,235 are available at year-end. c. Annual depreciation on the equipment is $14.929. d. Annual depreciation on the professional library is $7,464 e. On September 1. WTI agreed to do five courses for a client for $2.400 each. Two Courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $12,000 cash in advance for all five courses on September 1, and WTI credited Unearned Revenue 4. On October 15. WTI agreed to teach a four month class (beginning immediately) for an executive with payment due at the end of the class. At December 31. $12.350 of the tuition revenue has been earned by WT 9. WTI's two employees are paid weekly. 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 WELLS TECHNICAL INSTITUTE nadjusted trial Balance December Debat Credit Accounts receivable Teaching Supplies prepaid Insurance President professional Library Sai * VUITILL HIILIT IPUIU ILIILULLVUTILIPILILIIS ILIILIUI ULLLIIVI. WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 Credit Debit $ 27,698 e 10,652 15,981 2,132 31,958 $ 9,589 99,888 17,846 27,000 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 Ront expense Backentores expense 12.000 20, 267 83,ese 42,613 108.661 48,482 51 136 5950 3.0. Prepare We Technics stitutes income statement to the year 3.b. Prepare Wes Technics Institutes statement of retained esmines on the The Retained 383 000 on December of the process 3.c. Prepare Wes Technical Instute se ance sheet of Dece: 31 Seved Totals 3 318,845 $318,845 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 $83,000 on December 31 of the prior year. 3-c. Prepare Wells Technical Institute's balance sheet as of December 31

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