Net Sales - Cost of Goods Sold is equal to: ... O A. Operating Expenses. B. Gross Profit OC. Net Income from Operations. D. Selling Expenses. w Which amount is directly found on the worksheet? ---- O A. Freight-in B. Net Sales O c. Gross Profit OD. None of the above Liquidity is: A. how quickly customers pay. B. how easily an asset can be converted to cash. c. the ability in which a current debt can be paid. D. how much cash a company has on its balance sheet. The ending merchandise inventory was understated. This error would cause: A. assets to be overstated. B. assets to be understated. c. Cost of Goods Sold to be understated. OD. net income to be overstated