Alpaca Corporation had revenues of $210,000 in its first year of operations. The company has not collected on $19,000 of its sales and still owes $26,400 on $75,000 of 18 merchandise it purchased. The company had no inventory on hand at the end of the year. The company paid $13,000 in salaries. Owners invested $19,000 in the business and $19,000 was borrowed on a five-year note. The company paid $2,100 in interest that was the amount owed for the year, and paid $7,100 for a two-year insurance policy on the first day of business. Alpaca has an effective income tax rate of 30% 01:51:41 Compute net income for the first year for Alpaca Corporation. Multiple Choice $78,960 $ 81.445 $ 116,350 $ 135.000