The following information is available for Renteria Manufacturing Company for the month ending March 31, 2008:

Cost of goods manufactured

$265,000

Selling expenses

85,000

Administrative expenses

45,000

Sales

540,000

Finished goods inventory, March 1

60,000

Finished goods inventory, March 31

55,000

For the month ended March 31, 2008, determine Renteria’s (a) cost of goods sold, (b) gross profit, and (c) net income.