Suppose you have the following scenario: During 2010, North American Trucking Co. billed its client for $30,000. On December 31, 2010, it had received $25,000, with the remaining $5,000 to be received in 2011. Total expenses during 2010 were $18,000 with $5,000 of these costs not yet paid at December 31. Given the information above, NET INCOME using ACCRUAL-BASIS ACCOUNTING is:

(a) $25,000

(b) $13,000

(c) $12,000

(d) $10,000

(e) $5,000