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The following is selected information from Marigold Corporation for the fiscal year ending October 31, 2020. Cash received from customers $305000 Revenue recognized 372000 Cash
The following is selected information from Marigold Corporation for the fiscal year ending October 31, 2020. Cash received from customers $305000 Revenue recognized 372000 Cash paid for expenses 183000 Cash paid for computers on November 1, 2019 that will be used for 3 years (annual depreciation is 516300) Expenses incurred, including interest but excluding any depreciation Proceeds from a bank loan part of which was used to pay for the computers 100000 48900 218000 Based on the accrual basis of accounting what is Marigold Corporation's net income for the year ending October 31, 2020? $86100 O $137700 O $154000 573100
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