Nicholas Company had the following Adjusted Trial Balance for the month ended May $31,201$

$\backslash$table$[[\backslash$table$[[$Nicholas Compan$],[$Adjusted Trial Balar$],[$May $31,2016]],,],[$Account Names,Debit,Credit$],[$Carh$,$$$337,100,],[$Petty Cash Fund,$5,000,],[$Accounts Receivable,$24,200,],[$Merchandise Inventory, $5/1/16,57,500,],[$Store Supplies,$11,700,],[$Office Supplies,$3,500,],[$Prepaid Insurance,$3,208,],[$Land$,37,000,],[$Forklift$,32,800,],[$Accumulated Depreciation, Forklift,,$$800],[$Delivery Truck,$157,000,],[$Accumulated Depreciation, Delivery Truck,,$1,500],[$Accounts Payable,,$62,600],[$Salaries Payable,,$1,800],[$Unearned Sales Revenue,,$13,000],[$Notes Payable $($Long$-$Term$),,122,900],[$Nicholas Ram Capital,,$401,750],[$Nicholas Ram Drawings,$4,500,],[$Sales Revenue,,$259,600],[$Sales Discounts,$624,],[$Sales Returns and Allowances,$4,800,],[$Purchases$,133,000,],[$Purchases Discounts,,$3,524],[$Purchases Returns and Allowances,,$7,200],[$Freight$-$in$,1,800,],[$Salaries Expense,$33,400,],[$Utilities Expense,$8,200,],[$Repair Supplies Expense,$960,],[$Postage Expense,$390,],[$Rent Expense,$16,000,],[$Depreciation Expense, Delivery Truck,$750,],[$Depreciation Expense, Forklift,$800,],[$Office Supplies Expense,$1,200,],[$Insurance Expense,$292,],[$Cash Shart & Over,$150,],[$Interest Expense,$3,300,],[$Interest Reverue,,$4,500],[$Totals$,$$$979,174,$$$979,174]]$

Ending Merchandise Imventory $=$$$62,000.$

Part $4$

Prepare the Closing Entries for Nicholas Company. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. Do not use dollar signs $($$$)$ when

$($To close beginning inventory and other income statement accounts with debit balances$)$

$($To record the ending inventory and close the other income statement accounts with credit balances$)$

$31$

$($To close the income summary account$)$

$31$

$($To close the drawings account$)$

$($To close the drawings account$)$