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Wells Technical Institute (WTI), a school owned by TristanaWells, provides training to individuals who pay tuition directly tothe school. WTI also offers training to groups in off-sitelocations. Its unadjusted trial balance as of December 31, 2017,follows. WTI initially records prepaid expenses and unearnedrevenues in balance sheet accounts. Descriptions of itemsathrough h that require adjusting entries onDecember 31, 2017, follow.

1. An analysis of WTI's insurance policies shows that $3,996 ofcoverage has expired.
2. An inventory count shows that teaching supplies costing $3,464are available at year-end 2017.
3. Annual depreciation on the equipment is $15,986.
4. Annual depreciation on the professional library is $7,993.
5. On November 1, WTI agreed to do a special six-month course(starting immediately) for a client. The contract calls for amonthly fee of $3,000, and the client paid the first five months'fees in advance. When the cash was received, the Unearned TrainingFees account was credited. The fee for the sixth month will berecorded when it is collected in 2018.
6. On October 15, WTI agreed to teach a four-month class(beginning immediately) for an individual for $4,861 tuition permonth payable at the end of the class. The class started on October15, but no payment has yet been received. (WTI's accruals areapplied to the nearest half-month; for example, October recognizesone-half month accrual.)
7. 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 foreach employee.
8. The balance in the Prepaid Rent account represents rent forDecember.

WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2017
	Debit			Credit
Cash	$	27,849
Accounts receivable		0
Teaching supplies		10,710
Prepaid insurance		16,068
Prepaid rent		2,143
Professional library		32,133
Accumulated depreciation—Professional library				$	9,641
Equipment		74,968
Accumulated depreciation—Equipment					17,139
Accounts payable					35,341
Salaries payable					0
Unearned training fees					15,000
Common stock					13,000
Retained earnings					55,123
Dividends		42,845
Tuition fees earned					109,254
Training fees earned					40,702
Depreciation expense—Professional library		0
Depreciation expense—Equipment		0
Salaries expense		51,415
Insurance expense		0
Rent expense		23,573
Teaching supplies expense		0
Advertising expense		7,498
Utilities expense		5,998
Totals	$	295,200		$	295,200

2-a. Post the balance from the unadjusted trialbalance and the adjusting entries in to the T-accounts.
2-b. Prepare an adjusted trial balance.

Post the balance from the unadjusted trial balance and theadjusting entries in to the T-account

-a. Prepare Wells Technical Institute's incomestatement for the year 2017.
3-b. Prepare Wells Technical Institute's statementof owner's equity for the year 2017.
3-c. Prepare Wells Technical Institute's balancesheet as of December 31, 2017.