Tri Fecta, a partnership, had revenues of $363,000 in its first year of operations. The partnership has not collected on $45,700 of its sales and still owes $38,700 on $195.000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $29,500 in salaries. The partners invested $43.000 in the business and $24,000 was borrowed on a five-year note. The partnership paid $1.920 in interest that was the amount owed for the year and paid $9,300 for a two-year insurance policy on the first day of business Compute net income for the first year for Tri Fecta. O Multiple Choice $195.000 $131,930 $208.720 $168,000