The following selected account balances were taken from ABC Company's general ledgers for July: July 1 July 31 Inventory $43,000 $87,000 Prepaid insurance $28,000 $11,000 Accounts payable $14,000 $39,000 Accounts receivable $79,000 $52,000 ABC Company's statement of cash flows for July included the following: Cash paid to purchase inventory ..... $288,000 Cash collections from customers ..... $407,000 Cash paid for insurance ............. $ 32,000 Calculate the amount of sales revenue reported in ABC Company's July income statement.

I got $380,000 is that correct?