Entreprenuerial LLC is a small private consulting company that uses cash accounting. For 2003, Entrepreneurial LLC has billed clients $100,000 but has only received $90,000 in cash payments. Entrepreneurial LLC has incurred expenses of $50,000 but only paid $45,000 at the end of the year. What is Entrepreneurial LLC's net income on a cash basis?

A. $90,000
B. $55,000
C. $50,000
D. $45,000
E. $40,000