10 Tri Fecta, a partnership, had revenues of $377,000 in its first year of operations. The partnership has not collected on $45,300 of its sales and still owes $39,800 on $170,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $27,100 in salaries. The partners invested $47,000 in the business and $28,000 was borrowed on a five-year note. The partnership paid $3,080 in interest that was the amount owed for the year and paid $8,800 for a two-year insurance policy on the first day of business. Compute net income for the first year for Tri Fecta. Multiple Choice $179,900 $207,000