Match the following terms A through E with the appropriate definitions 1 through 5.

A. Merchandise inventory 

B. Single-step income statement 

C. Selling expenses 

D. Multiple-step income statement 

E. General and administrative expenses

1. An income statement format that shows only one subtotal for total expenses.

2. Products a company owns and intends to sell.
3. Expenses that support overall operations and includes expenses related to accounting, human resource management, and financial management.
4. An income statement format that shows detailed computations of net sales and other costs and expenses, and reports subtotals for various classes of items.
5. The expenses of promoting sales by displaying and advertising merchandise, making sales, and delivering goods to customers.