revenue and expenses to answer the question. Save your answ 28,000 34,000 9,000 71,000 Stuart Company Balance Sheet As of December 31, 2019 (amounts in thousands) Cash 84,000 Accounts Payable Accounts Receivable 47,000 Debt Inventory 42,000 Other Liabilities Property Plant 243,000 Total & Equipment, Liabilities Gross Accumulated 71,000 Paid-In Capital Depreciation Property Plant & 172,000 Retained Equipment, Net Earnings Other Assets 28,000 Total Equity Total Assets 373,000 Total Liabilities & Equity 67,000 235,000 302,000 373,000 Stuart Company Balance Sheet As of March 31, 2020 (amounts in thousands) Cash 87,000 Accounts 19,000 Payable Accounts Receivable 44,000 Debt 28,000 Inventory 50,000 Other Liabilities 29,300 Property Plant 243,000 Total 76,300 & Equipment, Liabilities Gross Accumulated 72,100 Paid-In Capital 67,000 Depreciation Property Plant & 170,900 Retained 235,600 Equipment, Net Earnings Other Assets 27,000 Total Equity 302,600 Total Assets 378,900 Total 378,900 Liabilities & Equity 15 Cash 19,000 Stuart Company Balance Sheet As of March 31, 2020 (amounts in thousands) 87,000 Accounts Payable Accounts Receivable 44,000 Debt Inventory 50,000 Other Liabilities Property Plant 243,000 Total & Equipment, Liabilities Gross Accumulated 72,100 Paid-In Capital Depreciation Property Plant & 170,900 Retained Equipment, Net Earnings Other Assets 27,000 Total Equity Total Assets 378,900 Total Liabilities & Equity 28,000 29,300 76,300 67,000 235,600 302,600 378,900 Revenue and expenses information from January 1 to March 31, 2020 were: Sales Revenue of $6,300,000 COGS of 35% of Sales Interest of $150,000 Other Expenses of $200,000 SGSA of $1,260,000 Tax Rate of 35% What is the net income in the first quarter of 2020? Note: Revenue and expense amounts are provided in dollars but the financial statement units are thousands of dollars. Please specify your answer in the same units as the financial statements (ie., enter the number from your completed income statement) Open Glossary in separate tab Show navigation tips 19 a ty