Omega Company has sales of $312,000 and cost of goods sold of $206,000. The cost of goods sold is a variable cost. The Company incurred $26,000 of fixed operating expenses and $43,000 of variable operating expenses. Based on this information Multiple Choice net income is $37,000 under the gross margin format and $106,000 under the contribution margin format. the company's gross margin is $106,000, while its contribution margin is $63,000. O net income is $106,000 under the gross margin format and $37,000 under the contribution margin format. o o O the company's gross margin is $63,000, while its contribution margin is $106,000