Tom, age 13, is claimed as a dependent by his parents. tom has unearned income of $3,400 and $300 of income from mowing lawns in the neighborhood. if the first $2,550 of tom's net unearned income is taxed at 10%, what is tom's 2018 income tax liability?
a. $370
b. $265
c. $459
d. $0

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.