Matt Co. disclosed the following changes in the account balances for 2015: Cash 400,000 decrease, Accounts receivable 200,000 increase, Inventory 2,500,000 increase, Accounts payable 300,000 decrease. During the year, the entity borrowed 2,500,000 in notes from a bank and paid off notes of 1,000,000 and interest of 150,000. Interest of 100,000 is accrued at year end. There was no accrued interest at the beginning of the year. The proprietor transferred trading securities to the business and these were sold for 450,000 to finance the purchase of inventory. The proprietor also made withdrawals of 500,000 in the current year. What is the net income for the year?

A. 1,000,000

B. 1,500,000

C. 1,450,000

D. 1,050,000