BAB Company reported the following information for the year 2020: Cash received from customers $300,000; Revenue earned $440,000; Cash paid for expenses $170,000; Expenses incurred (not including any depreciation) $200,000; Cash paid for the purchase of computers at the beginning of the year $48,000; Proceeds from a bank loan (part of which was used to pay for the computers) $100,000. The computers will be used for 3 years (annual depreciation is $16,000). Based on the accrual basis of accounting, what is BABs net income for 2020?