The Following Is Selected Information from C Corporation for the Fiscal

The following is selected information from C Corporation for the fiscal year ending October 31 2022. $\begin{array}{|l|lcc|} \hline \text { Cash received from customers } &\$150,000\\\hline \text { Revenue recognized } & 225,000\\\hline \text { Cash paid for expenses } &85,000\\ \hline\text { Cash paid for computers on November 1, 2021 that } & { }\\ \text { will be used for 3 years } & 24,000\\\hline \text { Expenses incurred including any depreciation } & 119,000\\\hline \text { Proceeds from a bank loan, part of which was used to } & \\\hline \text { pay for the computers } &50,000\\\hline \end{array}$
Based on the accrual basis of accounting what is C Corporation's net income for the year ending October 31 2022?

A) $132000
B) $116000
C) $106000
D) $140000