The following is selected information from

L

corporation for the fiscal year ending October 21, 2022:\ Cash received from customers\ Revenue recognized\

$300,000\ 440,000\ 170,000

\ Cash paid for expenses\ Cash paid for computers on Nov. 1, 2021 that will be used for 3 years\ Expenses incurred including any depreciation\

48,000\ 216,000

\ Proceeds from a bank loan, part of which was used to pay for the computers\

100,000

\ Based on the accrual basis of accounting, what is L corporation's net ir for the year ending October 31, 2022?\

$224,000

\

$254,000

\

$208,000

\

$270,000

The following is selected information from L corporation for the fiscal year ending October 21, 2022: Based on the accrual basis of accounting, what is L corporation's net irsome for the year ending October 31, 2022? $224,000 $254,000 $208,000 $270,000