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Use the following information (in random order) from a merchandising company and from a service company. Kleiner Merchandising Company Accumulated depreciation $ 700 Beginning inventory

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Use the following information (in random order) from a merchandising company and from a service company. Kleiner Merchandising Company Accumulated depreciation $ 700 Beginning inventory 8,500 Ending Inventory 4,500 Expenses 1,800 Net Purchases 9,500 Net Sales 16,500 A nt Krug Service Company Expenses $ 8, 100 Revenues 21,000 Cash 600 Prepaid rent 640 Accounts payable 200 Equipment 1,900 sk ences Required: a. Compute the goods available for sale, the cost of goods sold, and the gross profit for the merchandiser. Hint: Not all info be necessary b. Use the above information from a service company and from a merchandiser to compute net income. a. Goods available for sale Cost of goods sold Gross profit Net income for Krug Service Company Net income for Kleiner Merchandising Company b

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