Hamilton Company had the following inventory balances at the beginning and end of the year:

                                 Jan. 1               Dec. 31

Raw Material             50,000             $35,000

Work in process        130,000           170,000

Finished Goods          280,000           255,000

During the year, the company purchased $100,000 of raw material and incurred $340,000 of direct labor costs. Other data: manufacturing overhead incurred, $450,000; sales, $1,560,000; selling and administrative expenses, $90,000; income tax rate, 30%.
Required:
A. Calculate cost of goods manufactured.
B. Calculate cost of goods sold.
C. Determine Hamilton's net income.