Newark Company Has Provided the Following Information: • Cash Sales,$450,000

Multiple Choice

Newark Company has provided the following information: • Cash sales,$450,000
• Credit sales,$1,350,000
• Selling and administrative expenses,$330,000
• Sales returns and allowances,$90,000
• Gross profit,$1,360,000
• Increase in accounts receivable,$55,000
• Bad debt expense,$33,000
• Sales discounts,$43,000
• Net income,$1,030,000
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How much is Newark's cost of sales?

A) $307,000.
B) $252,000.
C) $440,000.
D) $340,000.