QUESTION 39 The following information was drawn from the accounts of October Sky Inc. for the current year. Operating Expenses $20,000 Sales $100,000 Sales Returns & Allowances $2,000 Cost of Goods Sold $65,000 Based on these amounts, what is the amount of gross margin on October Sky's multi-step income statement? a. $33,000 b. $15,000 C. $13,000 d. $35,000 QUESTION 40 Operating Expenses $20,000 Sales $100,000 Sales Returns & Allowances $2,000 Cost of Goods Sold $65,000 Based on these amounts, what is the amount of net income on October Sky's multi-step income statement? a. $15,000 b. $33,000 C. $13,000 d. $8,000