QS 4-3 (Algo) Merchandise accounts and computations LO C1 Use the following information (in random order) from a merchandising company and from a service company. McNeil Merchandising Company Accumulated depreciation $ 700 14,500 Beginning inventory Ending inventory Expenses Net sales Net purchases Krug Service Company Expenses Revenues Cash Prepaid rent Accounts payable Equipment 8,700 2,400 19,100 28,500 $ 9,300 33,000 800 720 200 3,100 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 Cost of goods sold Gross profit b. Net income for Krug Service Company Net income for McNeil Merchandising Company