18. The following is the adjusted trial balance from the worksheet for Nik Inc. Photography Supplies. Nik Inc. Photography Supplies Adjusted Trial Balance For the Fiscal Year Ended March 31, 2018 Accounts Debit Credit Cash $ 15,650 Accounts Receivable 40,000 Prepaid Insurance 7,500 Merchandise Inventory 113,200 Equipment 35,000 Accumulated DepreciationEquipment 18,500 Land 41,000 Accounts Payable 38,000 Salaries Payable 8,000 Unearned Revenue 25,000 Note Payable 104,000 Common Stock 29,290 Dividends 9,000 Sales Revenue 281,000 Cost of Goods Sold 145,000 Salaries Expense 65,000 Depreciation ExpenseEquipment 18,500 Office Supplies Expense 4,040 Insurance Expense 5,000 Utilities Expense 4,900 0 Total $503,790 $503,790 Prepare a multi-step income statement for Nik Inc. Photography Supplies for March 31, 2018.

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