The Following Data Relate to Swift Company for the Year

The following data relate to Swift Company for the year ended December 31,2012.Swift Company uses the accrual basis. $\begin{array}{llcc} \text {Sales on credit } &\$250,000 \\ \text {Cost of inventory sold on credit } &170,000\\ \text { Collections from customers } &220,000\\ \text { Purchase of inventory on credit } &150,000\\ \text { Payment for purchases } &140,000\\ \text { Selling expenses (accrual basis) } &40,000\\ \text { Payment for selling expenses } &45,0000\end{array}$

Which of the following amounts represents income for Swift Company for the year ended December 31,2012?

A) $60,000
B) $50,000
C) $40,000
D) $35,000
E) $30,000