The following is selected information from motley corporation for the fiscal year ending october 31, 2015. cash received from customers - $300,000 revenue earned - 375,000 cash paid for expenses - 180,000 cash paid for computers on november 1, 2014 that will be used for 3 years (annual depreciation is $16,000) - 48,000 expenses incurred, including interest, but excluding any depreciation - 220,000 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 motley corporation's net income for the year ending october 31, 2015?