Alpha Company provided the following data concerning its income statement: sales, $1,020,000; purchases, $494,000; beginning inventory, $240,000; ending inventory, $227,000; operating expenses, $105,000; freight-in, $5,000; sales discounts, $23,000; purchases discounts, $15,000; sales returns & allowances, $113,000; and purchases returns & allowances, $44,000. The data are complete and provide the basis for preparation of an income statement. How much is net income?