The Cash Flow from Operating Activities on Moores statement of cash flows for 2020 was $5,000,000. For 2020, depreciation on fixed assets was $2,500,000, amortization of intangibles was $500,000, gains on the sale of fixed assets were $20,000, and loss on the sale of land was ($35,000). Based on the preceding information, Moores net income for 2020 was:

Select one:

a. None of the above

b. 2,015,000

c. 1,985,000

d. 8,015,000