Tri Fecta, a partnership, had revenues of $376,000 in its first year of operations. The partnership has not collected on $46,500 of its sales and still owes $38,500 on $230,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $30,900 in salaries. The partners invested $42,000 in the business and $29,000 was borrowed on a five-year note. The partnership paid $2,900 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. Ignore income taxes. Compute the cash balance at the end of the first year for Tri Fecta.

$ 165,700

$ 178,450

$ 173,700

$ 170,450