The following is selected information from C Corporation for the fiscal year ending October 31, 2014.

Cash received from customers	$150,000
Revenue earned	195,000
Cash paid for expenses	85,000
Cash paid for computers on November 1, 2013 that will be used for 3 years	24,000
Expenses incurred including any depreciation	119,000
Proceeds from a bank loan, part of which was used to pay for the computers	50,000

Based on the accrual basis of accounting, what is C Corporations net income for the year ending October 31, 2014?