Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $224,180 Selling expenses 74,880 Administrative expenses 39,590 Sales 476,970 Finished goods inventory, January 1 53,900 Finished goods inventory, January 31 49,130 For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income. (a) Bandera Manufacturing Company Cost of Goods Sold January 31 Finished goods inventory, January 1 Cost of goods manufactured Cost of finished goods available for sale Less finished goods inventory, January 1 Cost of goods sold A- (b) LESS THIS Cu YUUUS VOILUI,Jallualy 1 Cost of goods sold (b) Bandera Manufacturing Company Gross Profit January 31 Sales Cost of goods sold Gross profit ) (c) Bandera Manufacturing Company Net Income January 31 Gross profit Operating expenses: Selling expenses Administrative expenses Total operating expenses Net income