Question 31 Please refer to the following information for Smith Corporation for 2020 for questions 31-34. Cost of Goods Sold: Net Sales: Income tax expense Total Operating Expenses $ 60,000 $100,000 $5,000 $ 15,000 What is Smith Company's Gross Profit Percentage for 2020? O 20% 60% O 40% O 25% Question 32 What is Smith Company's Operating Income/Income from Operations for 2020? $25,000 O $15,000 O $40,000 O $20,000 D Question 33 2. What is this financial statement called: Statement of Retained earnings Income Statement Statement of Cash Flows O Balance sheet D Question 34 What is Smith Company's Net Income for 2020? O $30,000 O $10,000 O $20,000 O $40,000