The Cochran Tire Company gathered the following condensed data for the year ended December 31, 2021:

Account Amount (or percentage) Cost of Goods Sold $105,762,400 Net Sales $314,756,900 Selling Expenses $38,476,100 Interest Expense $24,756,800 Administrative Expenses $106,574,900 Common Stock Dividends Paid $5,000,000 Income tax percentage 40%

The Cochran Tire Company's assets at the beginning of 2021 were $9,100,000, and the assets were $9,518,000 at the end of 2021.

What did the Cochran Tire Company report as net income on its 2021 income statement?