Nicholas Company had the following Adjusted Trial Balance for the month ended May 31, 2016. Credit $900 Nicholas Company Adjusted Trial Balance May 31, 2016 Account Names Debit Cash $333,318 Petty Cash Fund 5,100 Accounts Receivable 24,300 Merchandise Inventory, 5/1/16 56,500 Store Supplies 11,100 Office Supplies 3,500 Prepaid Insurance 2,933 Land 35,000 Forklift 32,900 Accumulated Depreciation, Forklift Delivery Truck 162,000 Accumulated Depreciation, Delivery Truck Accounts Payable Salaries Payable Unearned Sales Revenue Notes Payable (Long-Term) Nicholas Ram, Capital Nicholas Ram, Drawings 4,500 Sales Revenue Sales Discounts 618 Sales Returns and Allowances 4,800 Purchases 148,200 Purchases Discounts Purchases Returns and Allowances Freight-in 2,000 Salaries Expense 34,600 Utilities Expense 8,700 Repair Supplies Expense 1,450 73,800 1,800 12,800 121,400 400,400 261,700 3,636 8,600 940 940 450 13,000 650 Repair Supplies Expense Postage Expense Rent Expense Depreciation Expense, Delivery Truck Depreciation Expense, Forklift Office Supplies Expense Insurance Expense Cash Short & Over Interest Expense 900 1,200 267 210 3,300 Interest Revenue 4,500 Totals $890,986 $890,986 Ending Merchandise Inventory = $62,000. Prepare the Multi-Step Income Statement. (Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers ref answers with commas.) Prepare the Owner's Equity Statement. (Do not use dollar signs ($) wh answers, you must enter your answers with commas.) Prepare a Classified Balance Sheet. (List Current Assets in order of liquidity. List Property, Plant and Equip Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your with commas.) Prepare the Closing Entries for Nicholas Company. (Credit account titles are automatically indented when the amount is not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, commas.) Date Account Titles and Explanation Debit Credit 2016 May 31 (To close beginning inventory and other income statement accounts with debit balances) (To record the ending inventory and close the other income statement accounts with credit balances) (To close the income summary account) 31 (To close the drawings account) Post the Closing Entries to the General Ledger. (Post entries in the order of Journal entries presented in the previous part. have a "zero" balance. Do not use dollar signs ($) when entering amounts. Only recalculate the ending balances to Le formatted numbers reflected in your final answers, you must enter your answers with commas.) Cash Debit Credit Balance Date 2016 May 31 Balance 333,318 Petty Cash Fund Date 2016 Debit Credit Balance May 31 Balance 5,100 Accounts Receivable Date Debit Credit Balance 2016 May 31 Balance 24,300 Debit Credit Balance Merchandise Inventory Date 2016 May 31 Balance 56,500 31 Closing 31 Closing Store Supplies Date 2016 Debit Credit Balance 2016 May 31 Balance 11,100 Debit Credit Balance Office Supplies Date 2016 May 31 Balance 3,500 Debit Credit Balance Prepaid Insurance Date 2016 May 31 Balance 2,933 Land Date 2016 Debit Credit Credit Balance May 31 Balance 35,000 Debit Credit Balance Forklift Date 2016 May 31 Balance 32,900 Debit Credit Balance Accumulated Depreciation, Forklift Date 2016 May 31 Balance 900 Delivery Truck Date 2016 Debit Credit Balance May 31 Balance 162,000 Accumulated Depreciation, Delivery Truck Date 2016 Debit Credit Balance May 31 Balance 1,450 Debit Credit Balance Accounts Payable Date 2016 May 31 Balance 73,800 Debit Credit Balance Salaries Payable Date 2016 May 31 Balance 1,800 Debit Credit Balance Unearned Sales Revenue Date 2016 May 31 Balance 12,800 Notes Payable (Long-Term) Date Debit Credit Balance 2016 May 31 Balance 121,400 Debit Credit Balance Nicholas Ram, Capital Date 2016 May 31 Balance 400,400 31 Closing 31 Closing Debit Credit Balance Nicholas Ram, Drawings Date 2016 May 31 Balance 4,500 31 Closing Debit Credit Balance Sales Revenue Date 2016 May 31 Balance 261,700 31 Closing Debit Credit Balance Sales Discounts Date 2016 May 31 Balance 618 31 Closing Sales Returns and Allowances Date Debit Credit Balance Sales Returns and Allowances Date 2016 Debit Credit Balance May 31 Balance 4,800 31 Closing Debit Credit Balance Purchases Date 2016 May 31 Balance 148,200 31 Closing Debit Credit Balance Purchases Discounts Date 2016 May 31 Balance 3,636 31 Closing Debit Credit Balance Purchases Returns and Allowances Date 2016 May 31 Balance 8,600 31 Closing Freight-In Date 2016 Debit Credit Balance Freignt-in Date 2016 Debit Credit Balance May 31 Balance 2,000 31 Closing Debit Credit Balance Salaries Expense Date 2016 May 31 Balance 34,600 31 Closing Debit Credit Balance Utilities Expense Date 2016 May 31 Balance 8,700 31 Closing Debit Credit Balance Repair Supplies Expense Date 2016 May 31 Balance 940 31 Closing Postage Expense Date 2016 Debit Credit Balance May 31 Balance 450 Debit Credit Balance Postage Expense Date 2016 May 31 Balance 450 31 Closing Rent Expense Date Debit Credit Balance 2016 May 31 Balance 13,000 31 Closing Debit Credit Balance Depreciation Expense, Delivery Truck Date 2016 May 31 Balance 650 31 Closing Depreciation Expense, Forklift Date Debit Credit Balance 2016 May 31 Balance 900 31 Closing Office Supplies Expense Date 2016 Debit Credit Balance May 31 Balance May 31 Balance 1,200 31 Closing Insurance Expense Date 2016 Debit Credit Balance May 31 Balance 267 31 Closing Debit Debit Credit Cash Short & Over Date 2016 May 31 Balance Credit Balance 210 31 Closing Interest Expense Date Debit Credit Balance 2016 May 31 Balance 3,300 31 Closing Debit Credit Balance Interest Revenue Date 2016 May 31 Balance 4,500 31 Closing 2016 May 31 Balance 3,300 31 Closing Debit Debit Interest Revenue Date 2016 May 31 Balance Credit Credit Balance 4,500 31 Closing Income Summary Date 2016 Debit Debit Credit Credit Balance May 31 Closing 31 Closing 31 Closing Prepare a Post-Closing Trial Balance. (Do not list those accounts that have zero numbers reflected in your final answers, you must enter your answers with Debit Credit $ $ Totals