1. Kate Kramer is the owner and operator of The Kramer Company located in Kingston, Ontario. On September 30, 20-, The Kramer Company had the following assets and liabilities. A. Prepare the September 30 balance sheet for The Kramer Company. Assets Cash Debtors J. Crothers R. Zack Supplies Furniture and Equipment Delivery Equipment Liabilities Creditors Able Supply Company C.P. Gregg Bank Loan $ 1636 1 100 370 I 200 14 700 20 100 4740 3 000 10 000 B. If the Kramer Company were a retailing business, it would list an asset named Merchandise Inventory. What do you suppose Merchandise Inventory is? After which asset on the balance sheet would you place Merchandise Inventory? Explain why you would choose this location.