A company provides the following financial information related to its retained earnings for the year ended December $31,2020.($All dollar amounts in thousands.$)$

Retained earnings balance as of January $1,2020$: $$35,990$

Net sales for year $2020$: $$7,918$

Net income for year $2020$: $$1,584$

Dividends paid to shareholders in year $2020$: $$272$

For year $2021,$ net income is forecasted to be $$1,620.$ Use the information above to forecast the following amounts for year $(2021).$