The Following Is Selected Information from L Corporation for the Fiscal

The following is selected information from L Corporation for the fiscal year ending October 31 2022. $\begin{array} { | l | r | } \hline \text { Cash received from customers } & \$ 300,000 \\\hline \text { Revenue recognized } & 440,000 \\\hline \text { Cash paid for expenses } & 170,000 \\\hline \begin{array} { c } \text { Cash paid for computers on November 1, 2021 that will } \\\text { be used for } 3 \text { years }\end{array} & 48,000 \\\hline \begin{array} { l } \text { Expenses incurred including any depreciation }\end{array} &216,000 \\\hline \begin{array} { l } \text { Proceeds from a bank loan, part of which was used to } \\\text { pay for the computers }\end{array} &100,000 \\\hline\end{array}$ Based on the accrual basis of accounting what is L Corporation's net income for the year ending October 31 2022?

A) $254000
B) $224000
C) $208000
D) $270000