Loren Ltd, a Calendar Year Taxpayer, Had the Following Transactions, All

Loren Ltd., a calendar year taxpayer, had the following transactions, all of which were properly reported on a timely filed return. Presuming the absence of fraud, how much of an omission from gross income must occur for Loren before the six-year statute of limitations applies? Show your computations. $\begin{array} { l } \text { Gross receipts}&&\$3,500,000\\ \text {Cost of sales }&&(1,000,000)\\ \text {Gross profit }&&\$2,500,000\\ \text { Capital gain}&\$100,000\\ \text {Capital loss }&(30,000)&70,000\\ \text {Total income }&&\$2,570,0000\\\end{array}$