Wilde Company earned revenues of

$130,000

in cash and

$220,000

on account during 2016. Of the

$220,000

on account,

$64,000

was collected in cash in 2016 and the rest in 2017. The company incurred expenses of

$115,000

in 2016 and made payments of

100,000

towards the expenses in 2016. What is net income in 2016 under cash-basis accounting?

A.

$30,000

B.

$94,000

C.

$235,000

D.

$120,000