Questions 10 through 13 are based on the following real-world scenario: Assume that you graduate from EIU with top honors. After graduation, Eli Lilly hires you as a staff accountant in the corporate headquarters at Indianapolis, IN. For the month of July 2015 the sales of Eli Lilly were $300,000. Cost of Goods were 50%, all expenses were 50% of Gross Margin. Taxes were 10% of Operating Income. 10. Gross Margin for Eli Lilly for July 2015 was: A. $10,000 B. $100,000 C. $150,000 D. None 11. Operating Income for Eli Lilly for July 2015 was: A. $75,000 B. $50,000 C. $15,000 D. None 12. Taxes for Eli Lilly for July 2015 was: A. $8,500 B. $6,000 C. $7,500 D. None 13. Net Income for Eli Lilly for July 2015 was: A. $10,000 B. $100,000 C. $150,000 D. None