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Tri Fecta, a partnership, had revenues of $366,000 in its first year of operations. The partnership has not collected on $46,100 of its sales and still owes $39,400 on $180,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $31,400 in salaries. The partners Invested $45,000 in the business and $30,000 was borrowed on a five-year note. The partnership paid $3,000 in interest that was the amount owed for the year and paid $8,400 for a two-year insurance policy on the first day of business. Ignore income taxes. Compute the cash balance at the end of the first year for Tri Fecta. Multiple Choice $218,200 $222.400 $286,700 $211,500