Broker betty is preparing a closing statement on the sale of a house for $177,000. betty is holding a $3,000 earnest money deposit and the balance of the buyer’s down payment is $22,000. the balance of the purchase price will be financed by a new mortgage, and the buyer is paying 2 points loan origination fee. the seller’s broker will receive a 6.5% commission and the buyer will pay $2,250 in miscellaneous closing expenses. real estate taxes for the current year are $2,050. the closing will take place on june 30. how much cash will the buyer have to bring to closing?

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.