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Extreme Hockey trains top-level hockey players with on-ice and off-ice programs. Extreme Hockey aims to maximize every hockey player's full potential. The company showed
Extreme Hockey trains top-level hockey players with on-ice and off-ice programs. Extreme Hockey aims to maximize every hockey player's full potential. The company showed the following trial balances for its first year just ended December 31, 2020: Account Title Cash Debit $ 18,000 Credit Accounts receivable 5,200 Prepaid rent 13,000 Machinery 57,100 Accounts payable $ 17,300 Notes payable 47,000 Ryan Roy, capital 50,000 Ryan Roy, withdrawals 2,000 Training revenue 18,000 Wages expense 29,000 Rent expense 8,000 Totals $132,300 $132,300 Required: Use the information provided to complete an income statement, statement of changes in equity, and balance sheet. Revenues: EXTREME HOCKEY Income Statement For Year Ended December 31, 2020 Operating expenses: Total nnaratinn avnaneae
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