Sub Company is a 100% owned subsidiary of Parent Corporation. During 2018, Parent sold inventory costing $500,000 to Sub for $750,000. Sub Company had sold all of these goods to outsiders as of December 31, 2018. During 2018, Parent Company reported sales of $2,250,000 and cost of goods sold of $1,500,000, while Sub Company reported sales of $1,200,000 and cost of goods sold of $1,000,000.

Determine the 2018 consolidated gross profit.