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Alpha Company provided the following data concerning its income statement: sales, $990,000; purchases, $434,000; beginning inventory, $245,000; ending inventory, $257,000; operating expenses, $105,000; freight-in, $5,000;

Alpha Company provided the following data concerning its income statement: sales, $990,000; purchases, $434,000; beginning inventory, $245,000; ending inventory, $257,000; operating expenses, $105,000; freight-in, $5,000; sales discounts, $27,000; purchases discounts, $15,000; sales returns & allowances, $92,000; and purchases returns & allowances, $32,000.The data are complete and provide the basis for preparation of an income statement.How much is net income?

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