Tri Fecta, a partnership, had revenues of $376,000 in its first year of operations. The partnership has not collected on $45,400 of its sales and still owes $39,300 on $195,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $32,800 in salaries. The partners invested $49,000 in the business and $28,000 was borrowed on a five-year note. The partnership paid $2,520 in interest that was the amount owed for the year and paid $8,100 for a two-year insurance policy on the first day of business. Compute net income for the first year for Tri Fecta.