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 $ 520 000 Inventory of finished goods 1 April 2019 Nil Cost of goods produced (per Manufacturing Schedule for the year 31/03/2020 $300 000 Closing inventory of finished goods as per Income Statement (includes unrealised Profit) $60 000 How much will be reported as gross profit on the Income Statement for the year ended 31 March 2020?