Requirement 3 please and thank you (:

* Requirements 1. Define the three business types: service, merchandising, and manufacturing. 2. Based on the data given for the two companies, determine the business type of each one. 3. Calculate the cost of goods sold for each company. Print Done i Data Table Company A Company B $ 10,400 $ 16,000 Beginning balances: Merchandise Inventory Finished Goods Inventory Ending balances: Merchandise Inventory Finished Goods Inventory Net Purchases Cost of Goods Manufactured 12,900 11,700 152,500 214,000 Print Done Below are data for two companies: E: (Click the icon to view the data.) Read the requirements. Requirement 1. Define the three business types: service, merchandising, and manufacturing. Business type Service Merchandising Manufacturing Definition Does not sell products. They sell time, skills, and knowledge. Resells products previously bought from suppliers. Uses labor, equipment, supplies, and facilities to convert raw materials into new finished products. Requirement 2. Based on the data given for the two companies, determine the business type of each one. Company A is a merchandising company and Company B is a manufacturing company. Requirement 3. Calculate the cost of goods sold for each company. Begin by calculating the cost of goods sold for Company A. Company A Cost of Goods Sold Choose from any list or enter any number in the input fields and then click Check