Nicholas Company had the following Adjusted Trial Balance for the month ended May 31 2016.

156,000 Delivery Truck Accumulated Depreciation, Delivery Truck Accounts Payable Salaries Payabl Unearned Sales Revenue Notes Payable (Long-Term) Nicholas Ram, Capital Nicholas Ram, Drawings Sales Revenue Sales Discounts 1,500 68,800 2,200 31,100 123,100 397,950 4,200 266,800 618 5,500 148,000 Sales Returns and Allowances Purchases Purchases Discounts Purchases Returns and Allowances 3,880 7,000 1,920 35,200 7,500 Freight-irn Salaries Expense Utilities Expense Repair Supplies Expense Postage Expense Rent Expense 940 410 14,000 650 600 1,200 317 350 3,300 Depreciation Expense, Delivery Truck Depreciation Expense, Forklift Office Supplies Expense Insurance Expense Cash Short & Over Interest Expense Interest Revenue Totals 4,500 $907,430 $907,430 Ending Merchandise Inventory $64.000 Nicholas Company Adjusted Trial Balance May 31, 2016 Account Names Debit $349,342 5,200 28,400 56,900 11,300 4,100 3,483 36,000 32,000 Credit Cash Petty Cash Fund Accounts Receivable Merchandise Inventory, 5/1/16 Store Supplies Office Supplies Prepaid Insurance Land Forklift Accumulated Depreciation, Forklift Delivery Truck $600 156,000 PRINT Prepare the Multi-Step Income Statement. (Do not use dollar signs ($) when entering amounts. To see comma- answers, you must enter your answers with commas.) ly by Study Prepare the Owner's Equity Statement. (Do not use dollar signs ($) when en you must enter your answers with commas.) Before moving onto the next section, please do the fallauing (fon