The following is selected information fr m Motley Corporation for the fiscal year ending October 31,2013. Cash received from customers Revenue eamed Cash paid for expenses Cash paid for computers on November 1, 2012 that will be used $300,000 350,000 180,000 for 3 years (annual depreciation is $16,000) Expenses incurre d, not including any depreciation Proceeds from a bank loan, part of which was use d to pay for 48,000 220,000 the computers 100,000 Based on the accrual basis of accounting, what is Motley Corporation's net income for the year ending October 31, 2013? 1) $62.000 2) $104,000. 3) $114.000. 4) $130,000