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Determine how much is net income

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Question - Alpha Company provided the following data concerning its income statement: sales, $1,040,000; purchases, $371,000; beginning inventory, $230,000; ending inventory, $247,000; operating expenses, $102,000; freight-in, $5,000; sales discounts, $23,000; purchases discounts, $10,000; sales returns & allowances, $83,000; and purchases returns & allowances, $38,000. The data are complete and provide the basis for preparation of an income statement. Determine how much is net income?

Reference no: EM132570874

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