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Use the balance sheets and information provided about revenue and expenses to answer the question. \begin{tabular}{|l|r|l|r|} \hline \multicolumn{2}{|c|}{SiamTradersBalanceSheetAsofDecember31,2022(amountsinthousands)} & 19,000 \\ \hline Cash & 91,000 & Accounts Payable & 24,000 \\ \hline Accounts Receivable & 44,000 & Debt & 6,000 \\ \hline Inventory & 48,000 & Other Liabilities & 49,000 \\ \hline \multicolumn{1}{|c|}{ Property Plant \& Equipment, Gross } & 234,000 & Total Liabilities & 69,000 \\ \hline Accumulated Depreciation & 78,000 & Paid-In Capital & 316,000 \\ \hline Property Plant \& Equipment, Net & 156,000 & Retained Earnings & 365,000 \\ \hline Other Assets & 26,000 & Total Equity & \\ \hline Total Assets & 365,000 & Total Liabilities \& Equity & \\ \hline \end{tabular} \begin{tabular}{|l|r|l|r|} \hline \multicolumn{2}{|c|}{SiamTradersBalanceSheetAsofMarch31,2023(amountsinthousands)} & 25,000 \\ \hline Cash & 96,000 & Accounts Payable & 23,300 \\ \hline Accounts Receivable & 45,000 & Debt & 6,720 \\ \hline Inventory & 38,000 & Other Liabilities & 41,580 \\ \hline \multicolumn{1}{|c|}{ Property Plant \& Equipment, Gross } & 234,000 & Total Liabilities & 69,000 \\ \hline \multicolumn{1}{|c|}{ Accumulated Depreciation } & 78,700 & Paid-In Capital & 317,720 \\ \hline Property Plant \& Equipment, Net & 155,300 & Retained Earnings & 359,300 \\ \hline Other Assets & 25,000 & Total Equity & \\ \hline Total Assets & 359,300 & Total Liabilities \& Equity & \\ \hline \end{tabular} Revenue and expenses information from January 1 to March 31, 2023 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 2023 ? 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)

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