ENC Corp. collected $90,000 from customers in 2015, of which $50,000 was from revenue earned on account in 2014. In addition, ENC earned $30,000 of revenue in 2015 which will not be collected until 2016. In 2015, ENC paid $70,000 for expenses. Of this amount paid, $20,000 was for expenses incurred on account in 2014. In addition, ENC also incurred $10,000 expenses in 2015, which will not be paid until 2016. Based on the above information, what is ENCs 2015 accrual-basis net income:

Select one:

a. $10,000

b. $20,000

c. $30,000

d. $40,000