The following information is available for Coswell Industries. Operating expenses amount to $25,240. Sales evenue is $257,640. Sales returns and allowances amount to $14,940. COGS is $153,420. A gain of $7,000 was realized on the sale of plant assets. Based on this, income from operations is a. $242,700 b. $89,280 c. $57,040 d. $64,040 e. $78,980 The following statement(s) describe an adjusting journal entry. a. It affects cash but not the income statement O b. It affects the income statement and balance sheet, but not cash O c. It affects cash and the income statement O d. It affects the statement of cash flows e. It affects cash and the balance sheet