A manufacturing company adds a factory profit of 25% to its cost of production. The following information is available for the period ended March 31, 2020. Sales revenue for the period Inventory of finished goods 1 April 2019 Cost of goods produced (per Manufacturing Schedule for the year 31/03/2020 Closing inventory of finished goods as per Income Statement (includes unrealised Profit) $520 000 Nil $300 000 $60 000 How much will be reported as gross profit on the Income Statement for the year ended 31 March 2020?