Kenneth Sanchez is assisting to prepare financial statements for Sheffield Publishing, a company that publishes books about coffee tables.

Assume the following information for the most recent period:

Unadjusted Cost of Goods Sold (prior to adjustments)

$617,000

Sales

$867,000

Actual Manufacturing Overhead

$71,700

Applied Manufacturing Overhead

$75,400

Given that Sheffield Publishing uses the "Direct Write-Off Method" to eliminate any underapplied or overapplied overhead, determine the amount of gross margin that will appear on Sheffield's income statement after adjustments.

Gross margin

$___________