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On 1 July 2019 the balance in Wolston pty ltd's retained earning account was $450000. The balance on 30 June 2020 was $700000. On 20

On 1 July 2019 the balance in Wolston pty ltd's retained earning account was $450000. The balance on 30 June 2020 was $700000. On 20 June 2020, the directors declared dividends of $120000 which were payable on 31 August 2020. Assuming entries have been completed the profit for the year ending 30 June 2020 was?

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