Smile owned a 20% royalty interest in an oil well. Smile received royalty payments on January 31 for the oil sold between the previous June 1 and November 30, an on July 31 for oil between December 31 and May 31. Production revealed the following sales:
June 1, 2019-November 30, 20193,000,000
December 1, 2019-December 31, 2019500,000
December 1, 2019-May 31, 20204,000,000
June 1, 2020-November 30, 20203,250,000
December 1, 2020-December 31, 2020700,000
What amount should be reported as royalty revenue for 2020?
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