(Answered) Question newark company has provided the following

Accounting

Question: Newark Company has provided the following information:

Cash sales, $510,000

Credit sales, $1,410,000

Selling and administrative expenses, $390,000

Sales returns and allowances, $96,000

Gross profit, $1,420,000

Increase in accounts receivable, $61,000

Bad debt expense, $39,000

Sales discounts, $49,000

Net income, $1,030,000

How much is Newark's cost of sales?

A. $500,000.

B. $294,000.

C. $355,000.

D. $394,000.

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