How much is net income

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Question

Alpha Company provided the following data concerning its income statement: sales, $935,000; purchases, $479,000; beginning inventory, $230,000; ending inventory, $252,000; operating expenses, $117,000; freight-in, $5,000; sales discounts, $25,000; purchases discounts, $15,000; 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. How much is net income?

Reference no: EM132326551

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