The following is selected information from Crane Corporation for the fiscal year ending October 31, 2020.

Cash received from customers	$295000
Revenue recognized	370000
Cash paid for expenses	175000
Cash paid for computers on November 1, 2017 that will be used
for 3 years (annual depreciation is $15500)	46500
Expenses incurred, including interest, but excluding any depreciation	215000
Proceeds from a bank loan, part of which was used to pay for
the computers	95000

Based on the accrual basis of accounting, what is Crane Corporations net income for the year ending October 31, 2020?

$73500.

$104500.

$155000.

$139500.