During the month of February Weaver World Tax preparation service, billed $74,000 of earned revenues on credit, received $41,000 from customers related to those billings, incurred labor, office and utilities expenses of $33,500, but only paid $19,425 for those expenses, and finally, prepaid $5,555 for computer services to be used in March. What was Weaver's accrual basis net income for February?

a. $16,020

b. $10,465

c. $38,750

d. $40,500

e. None of the above