Newark Company has provided the following information: Cash sales, $570,000 Credit sales, $1,470,000 Selling and administrative expenses, $450,000 Sales returns and allowances, $102,000 Gross profit, $1,480,000 Increase in accounts receivable, $67,000 Bad debt expense, $45,000 Sales discounts, $55,000 Net income, $1,030,000 How much is Newark's cost of sales? Multiple Choice $448,000. $560,000. $336,000. $403,000