Select all that apply Identify the statements below which are correct regarding a merchandiser's income statement. (Check all that app Merchandise inventory is reported on the statement. Total assets is the last line on the statement. Cost of goods sold is subtracted from net sales to determine gross profit. Accounts receivable is included on the statement. Expenses are subtracted from gross profit to calculate net income. Volatiles refer to substances that are highly flammable melt immediately upon contact with a hot body of magma crystallize more rapidly out of a melt evaporate easily and exist as gases