Question 11 (1 point) How much is a company's retained earnings, if at a given point in the the company has common stock of $300,000, assets of $500,000, and liabilities of $75,000? $200,000 $375,000 Some other amount $425,000 $125,000 Question 12 (1 point) A company has cost of goods sold of $595,000, net income of $35,000, income tax expense of $10,000, accounts payable of $325,000, and sales of $900,000. What is the company's gross margin? $45,000 $305,000 $270,000 $575,000 some other amount