1. The net income of Watson Co. was $5M for the year ended December 31, 2021. Additional information as follows:

Depreciation on fixed assets $1,100,000

Gain from the sale of land 300,000

Increase in accounts payable 200,000

Dividends paid on preferred stock 400,000

Share of income in equity method investee 700,000

Cash dividends received from equity method investee 100,000

The net cash provided by operating activities in the statement of cash flows for the year ended December 31, 2021, is: