Answer:
C-$530,000
Explanation:
Summarized information
sales revenue = $1,304,000
Operating expenses = $239,000
Opening inventory =$36,000
Ending inventory = $41,000
Cost of manufactured goods= $540,000
required net income
Net income: Gross profit - expenses
calculating gross profit, sales revenue - the cost of goods sold
sale revenue = $1,304,000
cost of goods sold= opening inventory + manufactured goods- closing stock
=$36,000+ $540,000- $41,000= $535,000
Gross profit = $ 1,304,000- $ 535,000 =$769,000
Net income = gross profit - expenses
= $769,000- $239,000
=$530,000
