A company reported the following items for the current year: Sales $=$$$3,000,000$; Cost of Goods Sold $=$$$1,500,000$; Depreciation Expense $=$$$170,000$; Administrative Expenses $=$$$150,000$; Interest Expense $=$$$30,000$; Marketing Expenses $=$$$80,000$; and Taxes $=$$$300,000.$ The firm's gross profit is equal to

$$770,000$

$$1,070,000$

$$1,100,000$

$$1,500,000.$