Partnership, had revenues of $365,000 in its first year of operations. The partnership has not collected on $45,200 of its sales and still owes $39,900 on $180,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $33,900 in salaries. The partners invested $43,000 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 $9,500 for a two-year insurance policy on the first day of business. Compute net income for the first year for Tri Fecta. Multiple Choice $180,000 $143,270 $180,000 $143,270 $231,480 O $185,000 The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated: Net sales Total assets End of year balance in cash Total stockholders' equity Gross profit (Sales Cost of Sales) Net increase in cash for the year Operating expenses Net operating cash flow Other income (expense), net Compute Orinoco's balance in cash at the beginning of the year. $ 10,795 4,494 1,139 332 2,648 21 2,058 729 $ (20) Multiple Choice $742 $1,139 O $1,939 51,118 D