Tri Fecta, a partnership, had revenues of $363,000 in its first year of operations. The partnership has not collected on $46,500 of its sales and still owes $40,000 on $165,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $25,700 in salaries. The partners invested $43,000 in the business and $22,000 was borrowed on a five-year note. The partnership paid $2,640 in interest that was the amount owed for the year and paid $9,700 for a two-year insurance policy on the first day of business. Ignore income taxes. Compute net income for the first year for Tri Fecta.

a)	$ 198,000
b)	$ 172,300
c)	$ 164,810
d)	$ 236,040