The Following Is Selected Information from Monty Corporation for the Fiscal

Multiple Choice

The following is selected information from Monty Corporation for the fiscal year ending October 31 2016. $\begin{array}{lr}\text { Cash received from customers } & \$ 300,000 \\\text { Revenue recognized } & 378,000 \\\text { Cash paid for expenses } & 180,000 \\\text { Cash paid for computers on November } 1,2015 \text { that will be used } & \\\quad \text { for } 3 \text { years (annual depreciation is } \$ 15,000 \text { ) } & 45,000 \\\text { Expenses incurred, including interest, but excluding any depreciation } & 230,000 \\\text { Proceeds from a bank loan, part of which was used to pay for } & \\\text { the computers } & 100,000\end{array}$
Based on the accrual basis of accounting what is Monty Corporation's net income for the year ending October 31 2016?

A) $75000.
B) $105000.
C) $133000.
D) $148000.