Use the balance sheets and information provided about revenue and expenses to answer the question.

Siam Traders Balance Sheet As of December 31, 2021 (amounts in thousands)
Cash	91,000	Accounts Payable	19,000
Accounts Receivable	44,000	Debt	24,000
Inventory	48,000	Other Liabilities	6,000
Property Plant & Equipment, Gross	234,000	Total Liabilities	49,000
Accumulated Depreciation	78,000	Paid-In Capital	69,000
Property Plant & Equipment, Net	156,000	Retained Earnings	247,000
Other Assets	26,000	Total Equity	316,000
Total Assets	365,000	Total Liabilities & Equity	365,000

Siam Traders Balance Sheet As of March 31, 2022 (amounts in thousands)
Cash	96,000	Accounts Payable	25,000
Accounts Receivable	45,000	Debt	23,300
Inventory	38,000	Other Liabilities	-6,720
Property Plant & Equipment, Gross	234,000	Total Liabilities	41,580
Accumulated Depreciation	78,700	Paid-In Capital	69,000
Property Plant & Equipment, Net	155,300	Retained Earnings	248,720
Other Assets	25,000	Total Equity	317,720
Total Assets	359,300	Total Liabilities & Equity	359,300

Revenue and expenses information from January 1 to March 31, 2022 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 2022?

Note: Revenue and expense amounts are provided in dollars but the financial statement units are thousands of dollars.

Round the income taxes amount to the nearest integer when you apply the tax rate.

Please specify your answer in the same units as the financial statements (i.e., enter the number from your completed income statement).