ed-to-Know Videos i Use the following information (in random order) from a merchandising company and from a service company. McNeil Merchandising Company Accumulated depreciation Beginning inventory Ending inventory Expenses Net purchases Net sales $700 5, 000 1,700 1,450 3,900 9,500 Krug Service Company Bxpenses Revenues Cash Prepaid rent Accounts payable Equipment $12,500 14,000 700 800 200 1,300 a. Compute the goods avallable for sale, the cost of goods sold and gross profit for the merchandiser. Hint Not all information may be necessary. b. Compute net income for each company. a. Goods available for sale a. Cost of goods sold a. Gross profit b. Net income for Krug Service Company b. Net income for McNeil Merchandising Company Prev 7 of 14