Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company

The following information is available for Gonzalez Manufacturing Company for the month ending July 31, 2016:

Cost of goods manufactured	$218,940
Selling expenses	73,140
Administrative expenses	38,660
Sales	465,840
Finished goods inventory, July 1	52,640
Finished goods inventory, July 31	47,980

For the month ended July 31, 2016, determine Gonzalez's (a) cost of goods sold, (b) gross profit, and (c) net income.

(a)

Gonzalez Manufacturing Company
Cost of Goods Sold
July 31, 2016
	$
	$
	$

(b)

Gonzalez Manufacturing Company
Gross Profit
July 31, 2016
	$
	$

(c)

Gonzalez Manufacturing Company
Net Income
July 31, 2016
		$
Operating expenses:
	$
Total operating expenses
		$