The Following Data Relate to Falcon Company for the Year

The following data relate to Falcon Company for the year ended December 31, 2012.Falcon Company uses the cash basis. $$\begin{array} { l r } \text { Sales for cash } & \$ 180,000 \\\text { Sales for credit } & 190,000 \\\text { Cost of inventory sold } & 210,000 \\\text { Collections from customers } & 350,000 \\\text { Purchases of inventory on credit } & 200,000 \\\text { Payment for purchases } & 220,000 \\\text { Selling expenses (accrual basis) } & 60,000 \\\text { Payment for selling expenses } & 70,000\end{array}$$ Which of the following amounts represents income for Falcon Company for the year ended December 31, 2012?

A) $90,000
B) $80,000
C) $70,000
D) $60,000
E) None of the answers are correct.