Directions Using the information provided, create a Word or Excel document with your responses to each question, then upload the document into Blackboard. A. Merchandise equations and flows Use the following information (in random order) from a service company and from a merchandiser to compute net income. For the merchandiser, also compute gross profit, the goods available for sale, and the cost of goods sold. Hint: Not all information may be necessary Krug Service Company $ 8,500 14,000 1,600 700 800 200 Owner, Capital....3,000 1,300 Beginning inventory Owner Capital Ending inventory Operating expenses Purchases Sales Owner, Withdrawals 700 5.000 950 1,700 1.450 3.900 9.500 1.600 Revonues Owner, Withdrawab Cash Prepaid ren B. Preparing journal entries- perpetual system Journalize the following merchandising transactions for Chilton Systems assuming it usesa perpetual inventory system. . On November 1, Chilton Systems purchases merchandise for S1,500 on credit with terms of 2/5, n/30, FOB shipping point; invoice dated November 1 2. On November 5, Chilton Systems pays cash for the November 1 purchase 3. On November 7, Chilton Systems discovers and returns $200 of defective merchandise purchased on November 1 for a cash refund