Yankers Enterprises Pty Ltd sells training course materials to organisations. The materials are imported from a United States-based course developer and on-sold for a profit. Yankers provides you with the following information for the purposes of preparing its income tax return for the CIY:

Sales

Less; Cost of goods sold Opening stock

Plus: purchases Less: closing stock

$690,000

$120,000 $530,000 $250,000

$400 000 $290,000

Gross profit

What is Yankers Enterprises assessable income for the current income tax year?