Alpha Company provided the following data concerning its income statement: sales, $850,000; purchases, $371,000; beginning inventory, $250,000; ending inventory, $247,000; operating expenses, $108,000; freight-in, $5,000; sales discounts, $15,000; purchases discounts, $15,000; sales returns & allowances, $95,000; 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?