1. The following information is available for Bandera Manufacturing Company for the month ending January 31:

   Cost of goods manufactured	$323,360
   Selling expenses	108,020
   Administrative expenses	57,100
   Sales	688,010
   Finished goods inventory, January 1	77,750
   Finished goods inventory, January 31	70,870

   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
   	$
   	$
   	$

   (b)

   Bandera Manufacturing Company
   Gross Profit
   January 31
   	$
   	$

   (c)

   Bandera Manufacturing Company
   Net Income
   January 31
   		$
   Operating expenses:
   	$
   Total operating expenses
   		$