When reviewing a firm$$s income statement, you note the amount reported for the firm$$s gross profit on sales. Based on this, you

Select answer from the options below

can conclude that the firm may be a merchandiser rather than a service company.

cannot conclude whether the firm is a service company or a merchandiser.

can conclude that the firm is both a service company and a merchandiser.

can conclude that the firm is a service company rather than a merchandiser.