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McNeil Merchandising Company Accumulated depreciation $ Beginning inventory Ending inventory Expenses Net purchases Net sales 700 10,500 6,300 2,000 12,700 20,500 Krug Service Company Expenses
McNeil Merchandising Company Accumulated depreciation $ Beginning inventory Ending inventory Expenses Net purchases Net sales 700 10,500 6,300 2,000 12,700 20,500 Krug Service Company Expenses Revenues Cash Prepaid rent Accounts payable Equipment $ 9,900 25,000 750 560 200 2,200 a. Compute the goods available 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 $ 23,200 Cost of goods sold Gross profit Net income for Krug Service Company Net income for McNeil Merchandising Company b
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