Tri Fecta, a partnership, had revenues of $379,000 in its first year of operations. The partnership has not collected on $45,900 of its sales and still owes $39,700 on $150,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $29,600 in salaries. The partners invested $46,000 in the business and $24,000 was borrowed on a five-year note. The partnership paid $2,640 in interest that was the amount owed for the year and paid $8,600 for a two-year insurance policy on the first day of business. Compute net income for the first year for Tri Fecta. O $ 150,000 O $ 229,000 O $ 269,840 O $ 192,460