Using the Information Below, Calculate Net Income for the Period

Using the information below, calculate net income for the period: $\begin{array}{lr}\text { Sales revenues for the period }&\$1,304,000\\\\\text { Operating expenses for the period } & 239,000 \\\text { Finished Goods Inventory, January } 1 & 36,000 \\\text { Finished Goods Inventory, December } 31 & 41,000 \\\text { Cost of goods manufactured for the period } & 540,000\end{array}$

A) $774,000.
B) $535,000.
C) $769,000.
D) $448,000.
E) $530,000.

Correct Answer:

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