Hi-growth investments is a state-registered investment adviser that has increased the number of its branch offices and expanded its product line due to the recent acquisition of static advisers, a smaller regional boutique investment advisory firm. hi-growth must inform the administrator of any amendments to its registration statement: 1. within 48 hours of the closing of the acquisition2. within 10 business days of the end of the month in which the acquisition occurred3. the earlier of 60 days after the acquisition, or the anniversary date of the hi-growth's acquisition4. promptly

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 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. compute net income for the first year for tri fecta.