Question: Select all that apply Identify the statements below which are correct regarding a merchandiser's multi-step income statement. Total assets is the last line on the

Select all that apply Identify the statements below which are correct regarding a merchandiser's multi-step income statement. Total assets is the last line on the statement. Expenses are subtracted from gross profit in order to calculate net income. 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

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