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

Nicholas Company Adjusted Trial Balance May 31, 2016
Account Names		Debit		Credit
Cash		$350,082
Petty Cash Fund		5,000
Accounts Receivable		26,200
Merchandise Inventory, 5/1/16		55,100
Store Supplies		11,200
Office Supplies		3,800
Prepaid Insurance		2,933
Land		34,000
Forklift		32,400
Accumulated Depreciation, Forklift				$600
Delivery Truck		154,000
Accumulated Depreciation, Delivery Truck				1,600
Accounts Payable				68,200
Salaries Payable				1,900
Unearned Sales Revenue				27,100
Notes Payable (Long-Term)				121,400
Nicholas Ram, Capital				394,350
Nicholas Ram, Drawings		4,000
Sales Revenue				265,800
Sales Discounts		624
Sales Returns and Allowances		4,500
Purchases		148,000
Purchases Discounts				3,916
Purchases Returns and Allowances				8,400
Freight-in		2,010
Salaries Expense		35,100
Utilities Expense		8,000
Repair Supplies Expense		870
Postage Expense		360
Rent Expense		13,000
Depreciation Expense, Delivery Truck		750
Depreciation Expense, Forklift		600
Office Supplies Expense		1,400
Insurance Expense		267
Cash Short & Over		270
Interest Expense		3,300
Interest Revenue				4,500
Totals		$897,766		$897,766

Ending Merchandise Inventory = $66,000.

Prepare the Multi-Step Income Statement.