9231 PM Tue Mar 31 H mbamath.com l"ll l'\" '5 I L 58%E) 1. Balance Sheet | 6. T Accounts 7. Journal 2. Balance Sheet II 3. Income Statement 4. Statement of Cash Flows 5. Statement Connections PostQuiz Q Use the balance sheets and information provided about revenue and expenses to answer the question. Ruston Company Balance Sheet As of December 31, 2018 (amounts in thousands) Cash 90,000 Accounts Payable 12,000 Accounts Receivable 34,000 Debt 36,000 Inventory 51,000 Other Liabilities 21,000 Property Plant & 230,000 Total Liabilities 69,000 Equipment, Gross Accumulated 55,000 Paid-In Capital 59,000 Depreciation Property Plant & 175,000 Retained Earnings 228,000 Equipment, Net Other Assets 6,000 Total Equity 287,000 Total Assets 356,000 Total Liabilities & 356,000 Equy Ruston Company Balance Sheet As of March 31, 2019 (amounts in thousands) Cash 88,000 Accounts Payable 15,000 Accounts Receivable 40,000 Debt 43,000 Inventory 41,000 Other Liabilities 5,737 Property Plant & 230,000 Total Liabilities 63,737 Equipment, Gross Accumulated 55,800 Paid-In Capital 59,000 Depreciation Property Plant & 174,200 Retained Earnings 230,463 Equipment, Net Other Assets 10,000 Total Equity 289,463 Total Assets 353,200 Total Liabilities & 353,200 Equy Revenue and expenses information from January 1 to March 31, 2019 were: Sales Revenue of $8,700,000 COGS of 25% of Sales Interest of $60,000 Other Expenses of $500,000 SG&A of $870,000 Tax Rate of 38% What is the net income in the first quarter of 2019? Please specify your answer in the same units as the balance sheets and round your answer to the nearest integer. l 2 3 A\" Wm Answer Save your answe I' v