Tri Fecta, a partnership, had revenues of $361,000 in its first year of operations. The partnership has not collected on $46,800 of its sales and still owes $38,300 on $185,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $26,200 in salaries. The partners invested $42,000 in the business and $22,000 was borrowed on a five-year note. The partnership paid $2,200 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.