Alpha Company provided the following data concerning its income statement: sales, $890,000; purchases, $353,000; beginning inventory, $250,000; ending inventory, $302,000; operating expenses, $90,000; freight-in, $5,000; sales discounts, $15,000; purchases discounts, $15,000; sales returns & allowances, $140,000; and purchases returns & allowances, $47,000.The data provides the basis for preparation of an income statement.How much is net income?