Marcus owns Fantasy Adventure Vacations, which is a sole proprietorship and a cash basis business. He received a $7,525 payment for services on December 29th of the current tax year. Marcus didn't deposit the check until January 5th of the next year because his wife had finished the business accounting records for the year before receiving the payment. He did not adjust his accounting records to reflect this payment. Marcus' total receipts before this check were $545,000 for this year, and his total expenses were $205,895. The company received a $623 rebate from a vendor. What was Marcus' net income for the year?

a) $545,000

b) $339,105

c) $347,253

d) $339,728