Multiple Select Question

Select all that apply

Identify the statements below which are correct regarding a merchandiser's multi$-$step inoome statement. $($Check all that apply$).$

Total assets is the last line on the statement.

Merchandise inventory is reported on the statement.

Cost of goods sold is subtracted from net sales in order to determine gross profit.

Accounts receivable is included on the statement.

All expenses are subtracted from gross profit in order to calculate net income.

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