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$82,000 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 3AReq 38Req 3CPrepare Wells Technical Institute's statement of retained earnings for the year. The Retained Earnings account balance was$82,000 on December 31 of the prior year.WELLS TECHNICAL INSTITUTEStatement of Retained EarningsFor Year Ended December 31Retained earnings, December 31 prior year endRetained earnings, December 31 current year end< Req 3A00Req 3C >

Part 1:Explanation:Step 1: Gather Revenue and Expense Information- Identify all sources of revenue…

Answered: 3-a. Prepare Wells Technical…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter3: The Basics Of Record Keeping And Financial Statement Preparation: Income Statement

Section: Chapter Questions

Problem 20P

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