Newark Company has provided the following information: Sales Revenue, $2,100,000 Selling and administrative expenses, $480,000 Sales returns and allowances, $105,000 Gross profit, $1,510,000 Increase in accounts receivable, $70,000 Bad debt expense, $48,000 Sales discounts, $58,000 Net income, $1,030,000

How much is Newark's cost of sales?

Group of answer choices

$357,000

$475,000

$590,000

$427,000