Supply the missing formula or terms.

TOPIC: Statement of Comprehensive Income (Single Step and Multi-Step)

ex.) Net Sales - Cost of Sales = Gross Profit

1. Purchases - Purchase Return and allowance and Purchase Discount = ?

2. Total Goods Available for Sales - Inventory Ending = ?

3. Gross Profit - Operating Expenses = ?

4. Inventory Beginning + Net Purchases = ?

5. Gross Sales is same as ???

6. Gross Profit - Operating Expenses (Bigger amount to Gross Profit) = ?

7. Add all operating expenses = ?

8. Merchandise Inventory Ending is part of Financial Position. = Yes or No?