QS $5-3$ Merchandlse accounts and computations

Use the following information $($in random order$)$ from a merchandising company and from a service company. Hot all info

may be necessary for the solutions.

For the merchandiser only, compute $(1)$ goods available for sale, $(2)$ cost of goods sold, and $(3)$ gross profit.

Compute net incame for each company

Krug Service Company

Expenses

$$12,500$

Revenue

$14,000$

Cash

Prepaid rent

Accoints payable

$700$

Equipment

$800$

$200$

$1,300$