The following is selected information from J Corporation for the fiscal year ending October 31, 2010.

Cash received from customers	$ 248,000
Revenue earned	730,000
Cash paid for expenses	260,000
Cash paid for computers on November 1, 2007 that will be used	24,000
for 3 years (annual depreciation is $8,000)
Expenses incurred, not including any depreciation	160,000
Proceeds from a bank loan, part of which was used to pay for	155,000
the computers

Based on the accrual basis of accounting, what is J Corporation's net income for the year ending October 31, 2010?

	A.	$542,000
	B.	$562,000
	C.	$570,000
	D.	$510,000