The following is selected information from Waterway Corporation for the fiscal year ending October 31, 2022...

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The following is selected information from Waterway Corporation for the fiscal year ending October 31, 2022 Cash received from customers $299000 Revenue recognized 379000 Cash paid for expenses 185000 Cash paid for computers on November 1, 2021 that will be used 46500 for 3 years (annual depreciation is $15500) Expenses incurred, including interest, but excluding any depreciation 217000 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 Waterway Corporation's net income for the year ending October 31, 2022? O $162000 O $106500. O $75500. O $146500. The following is selected information from Waterway Corporation for the fiscal year ending October 31, 2022 Cash received from customers $299000 Revenue recognized 379000 Cash paid for expenses 185000 Cash paid for computers on November 1, 2021 that will be used 46500 for 3 years (annual depreciation is $15500) Expenses incurred, including interest, but excluding any depreciation 217000 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 Waterway Corporation's net income for the year ending October 31, 2022? O $162000 O $106500. O $75500. O $146500.