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Nicholas Company had the following adjusted trial balance for the month ended May 31 2016. I already started this but im positive it isnt correct.

Nicholas Company had the following adjusted trial balance for the month ended May 31 2016. I already started this but im positive it isnt correct.
Please prepare the full multi-step income statement. thank you! image text in transcribed
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Nicholas Company Adjusted Trial Balance May 31, 2016 ES Debit $349,342 5,200 28,400 56,900 11,300 4,100 3,483 36,000 32,000 Credit Account Names Cash Petty Cash Fund y Accounts Receivable Merchandise Inventory, 5/1/16 Store Supplies Office Supplies Prepaid Insurance Land Forklift Accumulated Depreciation, Forklift Delivery Truck Accumulated Depreciation, Delivery Truck Accounts Payable $600 156,000 1,500 68,800 2,200 31,100 123,100 397,950 Salaries Payable Unearned Sales Revenue Notes Payable (Long-Term) Nicholas Ram, Capital Nicholas Ram, Drawings Sales Revenue Sales Discounts Sales Returns and Allowances 4,200 266,800 618 5,500 APR 14 Nicholas Ram, Caplta Nicholas Ram, Drawings 397,95 4,200 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 266,800 618 5,500 148,000 3,880 7,000 1,920 35,200 7,500 940 410 Rent Expense 14,000 Depreciation Expense, Delivery Truck Depreciation Expense, Forklift Office Supplies Expense 650 600 1,200 317 350 Insurance Expense Cash Short & Over Interest Expense Interest Revenue Totals 3,300 4,500 $907,430 $907,430 Ending Merchandise Inventory $64,000. APR Prepare the Multi-Step Income Statement. (Do not use dollar signs ($) when entering amounts. To see comm answers, you must enter your answers with commas. Nicholas Company ncome Statement For the Month Ended May 31, 2016 Net Income / (Loss) Cost of Goods Sold 266800 Less ! Sales Discounts 618 Sales Returns and Allowances 5500 260682 Net Sales 260682 Cost of Goods Sold Merchandise Inventory, Beginning Purchases Less 56900 148000 Purchases Discounts 3880 Purchases Returns and Allowances 700 Net Income / (Loss) ( Add -:,(Freight-in dd Cost of Goods Available for Sale Gross Margin Merchandise Inventory, Ending Operating Expenses Interest Expense Salaries Expense Utilities Expense Repair Supplies Expense Utilities Expense Repair Supplies Expense Postage Expense Rent Expense Depreciation Expense, Delivery Truck Depreciation Expense, Forklift Office Supplies Expense Insurance Expense Total Operating Expenses Net Income/ (Loss) 4500 Interest Revenue 3300 Interest Expense 950 58775 Net Income/ (Loss) 14

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