Alpaca Corporation had revenues of $260,000 in s first year of operations. The company has not collected on $1,300 of its sales and slowes $26.500 on $75,000 of merchandset purchased The company had no inventory on hand at the end of the year. The company paid $14.500 in salaries Owners invested $29.000 in the business and $29,000 was borrowed on a five-year note. The company paid $2.100 in interest that was the amount owed for the year, and paid $7400 for a two-year Insurance policy on the frst day of business Alpaca has an effective income tax rate of 40% Compute net income for the first year for Alpaca Corporation Multiple Choice O $08.820 O $185.000 O $96.600 O $4700 Next