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. $\begin{array}{ll}\text { Gross receipts } && \$ 3,500,000 \\\text { Cost of sales } && (1,000,000) \text { Gross profit }\\&& \$ 2,500,000\\\text { Capital gain } & \$ 100,000 \\\text { Capital loss } & (30,000) &70,000\\\text { Total income } &&\$2,570,000\end{array}$