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Credit $560,000 The adjusted trial balance of Nick Company contained the following information: Debit Sales...

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Credit $560,000 The adjusted trial balance of Nick Company contained the following information: Debit Sales Revenue Sales Returns and Allowances $ 15,000 Sales Discounts 7,000 Cost of Goods Sold 323,000 Freight-out 2.000 Advertising Expense 15,000 Interest Expense 18,000 Salaries and Wages Expense 65,000 Utilities Expense 28,000 Depreciation Expense Interest Revenue 7,000 I 27,000 Instructions Use the above information to prepare a multiple-step Income statement for the year ended December 31, 2012

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