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Alpha Company provided the following data concerning its income statement: sales, $1,045,000; purchases, $431,000; beginning inventory, $260,000; ending inventory, $242,000; operating expenses, $93,000; freight-in, $5,000;
Alpha Company provided the following data concerning its income statement: sales, $1,045,000; purchases, $431,000; beginning inventory, $260,000; ending inventory, $242,000; operating expenses, $93,000; freight-in, $5,000; sales discounts, $19,000; purchases discounts, $15,000; sales returns & allowances, $134,000; and purchases returns & allowances, $41,000.The data provide the basis for preparation of an income statement.How much is net income?
i am not sure how to get this answer or what the formula would be. may you help me
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