How much is net income

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Question - Alpha Company provided the following data concerning its income statement: sales, $1,010,000; purchases, $380,000; beginning inventory, $265,000; ending inventory, $262,000; operating expenses, $108,000; freight-in, $5,000; sales discounts, $15,000; purchases discounts, $15,000; sales returns & allowances, $83,000; and purchases returns & allowances, $44,000. The data are completed and provide the basis for preparation of an income statement. How much is net income?

Reference no: EM132483996

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