QS 4-3 (Static) Merchandise accounts and computations LO C1 Use the following information (in random order) from a merchandising company and from a service company Mckel Merchandising Company Accumulated depreciation $ 700 lleginning inventory 5,000 Ending inventory 1,700 Expenses 1.450 Het purchases 3,900 hot sales 9,500 Ku Bervice Company Expenses $ 12,500 Ravenues 14,000 Cash 700 Pewald rent 100 Accounts payable 200 Equipment 1.300 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 a. Cost of goods sold a. Gross prott b. Not income for Krug Service Company b. Not income for McNeil Merchandising Company