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Alpha Company provided the following data concerning its income statement: sales, $1,025,000; purchases, $500,000; beginning inventory, $260,000;...

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Accounting

Alpha Company provided the following data concerning itsincome statement: sales, $1,025,000; purchases, $500,000; beginninginventory, $260,000; ending inventory, $242,000; operatingexpenses, $93,000; freight-in, $5,000; sales discounts, $27,000;purchases discounts, $15,000; sales returns & allowances,$95,000; and purchases returns & allowances, $38,000. The dataare complete and provide the basis for preparation of an incomestatement. How much is net income?

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