Question: Select all that apply Identify the statements below which are correct regarding a merchandiser's multi-step income statement. Multiple select question. Cost of goods sold is

Select all that apply Identify the statements below which are correct regarding a merchandiser's multi-step income statement. Multiple select question. Cost of goods sold is subtracted from net sales in order to determine gross profit. Expenses are subtracted from gross profit in order to calculate net income. Merchandise inventory is reported on the statement. Total assets is the last line on the statement. Accounts receivable is included on the statement

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