Linda's Lights balance sheet info for the beginning of 2020 Owners Equity 27 million

Bank Loan 10 million 4.5% interest rate

Fixed Assets 10 million Inventory 23 million

Cash 4 million

Here are info for 2020

Purchased 220 thousand lamps for $100 each sold them for $125 each Incurred additional operating costs of $2 million

Purchased 5 trucks for $100 000 each

Profits tax 15%

Dividend payout ratio 30%

Q: What are After tax profits for the year?

Please show your calculation process