Using the information below, calculate gross profit for the period.

Sales revenues for the period	$1,304,000
Operating expenses for the period	$239,000
Finished Goods Inventory, January 1	36,000
Finished Goods Inventory, December 31	41,000
Cost of goods manufactured for the period	$540,000

Select one:

a. $448,000.

b. $530,000.

c. $535,000.

d. $774,000.

e. $769,000.