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A company shows the following balances: sales revenue $1,000,000 cost of goods sold. $560,000 sales revenue and allowances. $180,000 sales discounts. $30,000 operating expenses. $100,000

A company shows the following balances:

sales revenue $1,000,000

cost of goods sold. $560,000

sales revenue and allowances. $180,000

sales discounts. $30,000

operating expenses. $100,000

What is the gross profit?

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