Kleiner merchandising company accumulated depreciation $ 700 beginning inventory 13,500 ending inventory 8,100 expenses 2,300 net purchases 17,500 net sales 26,500 krug service company expenses $ 10,500 revenues 31,000 cash 850 prepaid rent 600 accounts payable 200 equipment 2,800 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. use the above information from a service company and from a merchandiser to compute net income.