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Use the balance sheets and information provided about revenue and expenses to answer the question. Stuart Company Balance Sheet As of December 31, 2018 (amounts

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

Stuart Company Balance Sheet As of December 31, 2018 (amounts in thousands)
Cash 84,000 Accounts Payable 28,000
Accounts Receivable 47,000 Debt 34,000
Inventory 42,000 Other Liabilities 9,000
Property Plant & Equipment, Gross 243,000 Total Liabilities 71,000
Accumulated Depreciation 71,000 Paid-In Capital 67,000
Property Plant & Equipment, Net 172,000 Retained Earnings 235,000
Other Assets 28,000 Total Equity 302,000
Total Assets 373,000 Total Liabilities & Equity 373,000
Stuart Company Balance Sheet As of March 31, 2019 (amounts in thousands)
Cash 87,000 Accounts Payable 19,000
Accounts Receivable 44,000 Debt 28,000
Inventory 50,000 Other Liabilities 29,300
Property Plant & Equipment, Gross 243,000 Total Liabilities 76,300
Accumulated Depreciation 72,100 Paid-In Capital 67,000
Property Plant & Equipment, Net 170,900 Retained Earnings 235,600
Other Assets 27,000 Total Equity 302,600
Total Assets 378,900 Total Liabilities & Equity 378,900

Revenue and expenses information from January 1 to March 31, 2019 were: Sales Revenue of $6,300,000 COGS of 35% of Sales Interest of $150,000 Other Expenses of $200,000 SG&A of $1,260,000 Tax Rate of 35%

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.

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