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Revenue $80,000 Expenses Utilities Expense $5,000 Salaries Expense 15,000 Rent Expense 3,2000 Total Expenses 23 700 Operating Income $56,300 Company B Revenue $50,000 Cost of

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Revenue $80,000 Expenses Utilities Expense $5,000 Salaries Expense 15,000 Rent Expense 3,2000 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 Ending Merchandise Inventory (5,500) Cost of Goods Sold 21,500 Gross Profit $ 28,500 Which of the following statements is true? Company A is a manufacturing company. Company A is a service company. Company B is a manufacturing company. Company A is a merchandising company

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