Schumacher Company uses the perpetual inventory system, and it engaged in the following transactions during 2014: 1) Started the business by issuing common stock for $7,860 cash 2) Paid cash to purchase $5.120 of inventory 3) Sold Inventory that cost $3.180 for $7610 cash 4) incurred and paid operating expenses, $262 Schumacher Company engaged in the following transactions during 2015 Paid cash to purchase $6100 of inventory 2) Sold inventory that cost $7,360 for $15,870 cash 3) incurred and paid operating expenses. $524 The balance in the Merchandise Inventory account at December 31, 2014 is: O $11690 $1416. $1,940 5472 MacBook Air 000