Use the following information (in random order) from a merchandising company and from a service company. Hint: Not all information may be necessary for the solutions.
a. For the merchandiser only, compute:
1. Goods available for sale.
2.Cost of goods sold.
3.Gross profit.
b. Compute net income for each company.

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Kleiner Merchandising Company Krug Service Company Accumulated depreciation. Beginning inventory.. Ending inventory.. Expenses... Net purchases.. Net sales.. $ 700 5,000 1,700 1,450 3,900 9,500 Expenses Revenues $12,500 14,000 Cash Prepaid rent. Accounts payable. Equipment 700 800 200 1,300