Question $18(0\mathrm{.}5$ points$)$

Which of the following statements about gross profit is correct?

Gross profit $=$ Net sales $-$ Cost $*$ of goods sold.

Gross profit is recorded by a credit to the Gross Profit account.

A company sells $$10,000$ of goods. If the gross profit percentage is $32\%,$ net

income would be $$3,200.$

If net sales are $$100$ and cost of goods sold is $$50$ then the gross profit

percentage is $100\%.$