Assignment CHAPTER 2 Analyzing and Recording Transactions Exercise 2-18 Preparing financial statements from a trial balance LOG CHECK FIGURES: Loss = $19,000; Total assets = $93,300 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 Debit Credit Cash. $ 18,000 Accounts receivable. 5.200 Prepaid rent. 13,000 Machinery. 57,100 Accounts payable. $ 17,300 Notes payable. Ryan Roy, capital.. 47,000 50,000 Ryan Roy, withdrawals 2,000 Training revenue.. 18,000 Wages expense. Rent expense. Totals... 29,000 8,000 $132,300 $132,300 Required Use the information provided to complete an income statement, statement of changes in equity, and balance sheet. Analysis Component: If Extreme Hockey continues to experience losses, what alternatives are available to prevent assets from decreasing?