Analysis Question 4-3 Complete Chapter 4's hands-on work, step-by-step activities, and end-of-chapter Exercises, pages 143-196. After completing chapter work and Exercise 4-1, refer to Exercise 4-2's reports to answer the following questions. Required: 1. Why is the balance in Merchandise Inventory different than the balance in Accounts Payable? Merchandise Inventory includes both purchases on account and inventory sold for cash. Sales on account only. O Purchases on account only. Vendor payments. All of these are correct. 2. Type the merchandise Inventory balance. Merchandise inventory balance