PPofit 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 $235,290 Selling expenses 78,600 Administrative expenses 41,550 Sales 500,610 Finished goods inventory, July 1 56,570 Finished goods inventory, July 31 51,560 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 Finished goods inventory, July 1, 2016 Cost of goods manufactured Cost of finished goods available for sale Less finished goods inventory, July 31, 2016 Cost of goods sold (b) Gonzalez Manufacturing Company Gross Profit July 31, 2016 Sales Cost of goods sold Gross profit Gonzalez Manufacturing Company Net Income July 31, 2016 Gross profit Operating expenses: Selling expenses Administrative expenses Total operating expenses Net income