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For the month of August, Florence News Media had income of $700,000 and expenses of $540,000. The bank balance at the beginning of the month

For the month of August, Florence News Media had income of $700,000 and expenses of $540,000. The bank balance at the beginning of the month was $1,200,000 and at the end of the month the bank balance was $1,460,000. The total assets for the month increased by $300,000 and equity increased by $280,000 during the month. The profit for the month of August is:

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