Nicholas Company had the following Adjusted Trial Balance for the month ended May 31, 2016. Credit Nicholas Company Adjusted Trial Balance May 31, 2016 Account Names Debit Cash $343,971 Petty Cash Fund 5,000 Accounts Receivable 25,400 Merchandise Inventory, 5/1/16 57,300 Store Supplies 11,200 Office Supplies 3,500 Prepaid Insurance 3,300 Land 36,000 Forklift 31,500 Accumulated Depreciation, Forklift Delivery Truck 155,000 Accumulated Depreciation, Delivery Truck Accounts Payable Salaries Payable Unearned Sales Revenue Notes Payable (Long-Term) Nicholas Ram, Capital Nicholas Ram, Drawings $900 1,550 94,000 1,900 24,900 123,800 396,100 4,100 265,600 615 5,500 176,000 3,926 7,600 Sales Revenue Sales Discounts Sales Returns and Allowances Purchases Purchases Discounts Purchases Returns and Allowances Freight-in Salaries Expense Utilities Expense Repair Supplies Expense Postage Expense Rent Expense Depreciation Expense, Delivery Truck Depreciation Expense, Forklift Office Supplies Expense Insurance Expense Cash Short & Over Interest Expense Interest Revenue 2,140 31,900 8,200 950 460 16,000 750 900 1,400 300 90 3,300 4,500 $924,776 $924,776 Totals Ending Merchandise Inventory = $62,000. CALCULATOR Prepare the Multi-Step Income Statement. (Do not use dollar signs ($) when entering amounts. To see comma-formatted number answers, you must enter your answers with commas.) PRINT CALCULATOR CALCULATOR FRIN + e nt CALCULATOR