ABC Company purchased inventory on credit from XYZ supplier on January 1, 2023, for $50,000. The company paid $20,000 on account on March 1, 2023, and the remaining balance was paid on May 1, 2023. On April 1, 2023, the company sold half of the inventory for $35,000 on credit terms of 2/10, n/30. On April 15, 2023, the customer returned $5,000 worth of inventory due to defects. The customer paid the remaining balance on April 28, 2023. ABC Company uses the perpetual inventory system and the specific identification method. What is the cost of goods sold for the sale, and what is the net income for the period?