Tri Fecta, a partnership, had revenues of $371,000 in its first year of operations. The partnership has not collected on $45,900 of its sales and still owes $38,400 on $185,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $25,400 in salaries. The partners invested $42,000 in the business and $28,000 was borrowed on a five-year note. The partnership paid $3,360 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.

A. $152,590

B. $185,000

C. $186,000

D. $224,060