Partial income statements of Company A and Company B are provided below: Company A Revenue $80,000 Expenses: Utilities Expense $5,000 Salaries Expense 15,000 Rent Expense 3,700 Total Expenses 23,700 Operating Income $56,300 Company B Revenue $50,000 Cost of Goods Sold: Beginning Merchandise Inventory $4,000 Purchases and Freight In 23,000 Cost of Goods Available for Sale 27,000 Ending Merchandise Inventory (5.500) Cost of Goods Sold 21,500 Gross Profit $28,500 Which of the following statements is TRUE? Which of the following statements is TRUE? Company A is a merchandising company. Company B is a manufacturing company. Company A is a manufacturing company. Company A is a service company. OOO