39 1 pts IS--Which category should a $1,000,000 Gain on the Disposal of the Plastic Division of Gary's Glass Company be presented on the Statement of Net Income? O Nonoperational Statement of Changes of owners' Equity but not on the Income Statement O No Effect on Income Statement or Owner's Equity Statement O Discontinued Operations O Operations Question 52 What is the gross profit as a percentage of cost if the gross profit on sales is 20%? O 25% O 20% O Not enough information is provided to determine O 17%. 1 pts Use the following information for Jake Company: Sales Revenue $2,000,000 Interest/Dividend Revenue.. 50,000 Cost-of-Goods- Sold 1,000,000 Selling and Administrative Expenses.. 200,000 Loss on Discontinued Operations..... 100,000 Unearned Revenue.. 100,000 What is Net Income for the Year Ended December 31, 2020 (ignore taxes)? O $700,000 None of the above $800,000 O $750,000 O $850,000