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Use the balance sheets and information provided about revenue and expenses to answer the question. Cash Ampounts Receivable Inventory Property Plant & Equipment, Gross Accumulated Depreciation Property Plant & Equipment, Net Other Assets Total Assets Siam Traders Balance Sheet As of December 31, 2018 (amounts in thousands) 91,000 Accounts Payable 44,000 Debt 48,000 Other Liabilities 234,000 Total Liabilities 78,000 Paid-In Capital 156,000 Retained Earnings 26,000 Total Equity 365,000 Total Liabilities & Equity 19,000 24,000 6,000 49,000 69,000 247,000 316,000 365,000 Cash Accounts Receivable Inventory Property Plant & Equipment, Gross Accumulated Depreciation Property Plant & Equipment, Net Other Assets Total Assets Siam Traders Balance Sheet As of March 31, 2019 (amounts in thousands) 96,000 Accounts Payable 45,000 Debt 38,000 Other Liabilities 234,000 Total Liabilities 78,700 Paid-In Capital 155,300 Retained Earnings 25,000 Total Equity 359,300 Total Liabilities & Equity 25,000 23,300 -6,720 41,580 69,000 248,720 317,720 359,300 Revenue and expenses information from January 1 to March 31, 2019 were: Sales Revenue of $9,600,000 COGS of 35% of Sales Interest of $160,000 Other Expenses of $400,000 SG&A of $1,920,000 Tax Rate of 34% 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