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QS 4-3 Merchandise accounts and computations LO C2 Kleiner Merchandising Company Accumulated depreciation $ 700 Beginning inventory 7,000 Ending inventory 2,500 Expenses 1,650 Net purchases 7,100 Net sales 13,500 Krug Service Company Expenses $ 7,800 Revenues 18,000 Cash 550 Prepaid rent 620 Accounts payable 200 Equipment 1,600 Required: a. Compute the goods available for sale, and 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 Cost of goods sold Gross profit Net income for Krug Service Company Net income for Kleiner Merchandising Company b