Alpha Company provided the following data concerning its income statement: sales, $960,000; purchases, $452,000; beginning inventory, $270,000; ending inventory, $252,000; operating expenses, $102,000; freight-in, $5,000; sales discounts, $19,000; purchases discounts, $15,000; sales returns & allowances, $98,000; and purchases returns & allowances, $38,000. The data are complete and provide the basis for preparation of an income statement. How much is net income?