3-a. Prepare Wells Technical Institute's income statement for the year. 3-b. Prepare Wells Technical Institute's statement of owner's equity for the year. The I. Wells, Capital account balance was $109,077 on December 31 of the prior year, and there were no owner investments in the current year. 3c. Prepare Wells Technical institute's balance sheet as of December 31 . Complete this question by entering your answers in the tabs below. Prepare Wells Technical Institute's income statement for the year: Problem 3-3A (Algo) Preparing adjusting entries, adjusted trial balance, and financial statements LO P1, P2, P3, P4, P5 [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 hthat require adjusting entries on December 31. Additional Information Items o. An analysis of WTI's insurance policies shows that $3,203 of coverage has expired b. An inventory count shows that feaching supplies costing $2,776 are available at year-end c. Annual depreciation on the equipment is $12.814. d. Annual depreciation on the professional library is $6,407 e. On September 1, WTI agreed to do five training courses for a ctlent 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 training courses on September 1, and WTI credited Uneamed Revenue. 1. 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,$9,750 of the tuition revenue has been eamed by WTI. g. WTI's two employees are paid weekly As of the end of the year, fwo 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. 3-a. Prepare Wells Technical insthute's income statement for the year. 3.b. Prepare Wells Technical Institute's statement of owner's equity for the year The T Wells. Capital account balance was $109.077 on December 31 of the prior year, and there were no owner investments in the current year, 3-c. Prepare Wells Technical linstitute's balance sheet as or December 31. Complete this question by entering your answers in the tabs below. Prepare Wells Technical Insticute's balance sheet as of December 31. 3-0. Prepare Welis Technical Institute's income statement for the year 3-b. Prepare Wells Technical Institute's statement of owner's equity for the year. The T Wells, Capital account balance was $109,077 on December 31 of the proryear, and there were no owner investments in the current year. 3-c. Prepare Wells Technical Institute's balance sheet as of December 31 3-0. Prepare Wells Technical Institute's income statement for the year. 3-b. Prepare Wells Technical Institute's statement of owner's equity for the year. The T. Wells, Capital account balance was $109,077 on December 31 of the prioryear, and there were no owner investments in the current 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. Prepare Welis Technical Institute's statement of owner's equity for the year. The T. Wells, Capital account balance was $109,077 on December 31 of the prior year, and there were no owner investments in the current year. 3-a. Prepare Wells Technical Institute's income statement for the year. 3-b. Prepare Wells Technical Institute's statement of owner's equity for the year. The I. Wells, Capital account balance was $109,077 on December 31 of the prior year, and there were no owner investments in the current year. 3c. Prepare Wells Technical institute's balance sheet as of December 31 . Complete this question by entering your answers in the tabs below. Prepare Wells Technical Institute's income statement for the year: Problem 3-3A (Algo) Preparing adjusting entries, adjusted trial balance, and financial statements LO P1, P2, P3, P4, P5 [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 hthat require adjusting entries on December 31. Additional Information Items o. An analysis of WTI's insurance policies shows that $3,203 of coverage has expired b. An inventory count shows that feaching supplies costing $2,776 are available at year-end c. Annual depreciation on the equipment is $12.814. d. Annual depreciation on the professional library is $6,407 e. On September 1, WTI agreed to do five training courses for a ctlent 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 training courses on September 1, and WTI credited Uneamed Revenue. 1. 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,$9,750 of the tuition revenue has been eamed by WTI. g. WTI's two employees are paid weekly As of the end of the year, fwo 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. 3-a. Prepare Wells Technical insthute's income statement for the year. 3.b. Prepare Wells Technical Institute's statement of owner's equity for the year The T Wells. Capital account balance was $109.077 on December 31 of the prior year, and there were no owner investments in the current year, 3-c. Prepare Wells Technical linstitute's balance sheet as or December 31. Complete this question by entering your answers in the tabs below. Prepare Wells Technical Insticute's balance sheet as of December 31. 3-0. Prepare Welis Technical Institute's income statement for the year 3-b. Prepare Wells Technical Institute's statement of owner's equity for the year. The T Wells, Capital account balance was $109,077 on December 31 of the proryear, and there were no owner investments in the current year. 3-c. Prepare Wells Technical Institute's balance sheet as of December 31 3-0. Prepare Wells Technical Institute's income statement for the year. 3-b. Prepare Wells Technical Institute's statement of owner's equity for the year. The T. Wells, Capital account balance was $109,077 on December 31 of the prioryear, and there were no owner investments in the current 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. Prepare Welis Technical Institute's statement of owner's equity for the year. The T. Wells, Capital account balance was $109,077 on December 31 of the prior year, and there were no owner investments in the current year