Eric enjoys making pizza. when he makes pizza for his friends, sometimes eric cares about how the pieces are distributed, and sometimes he doesn’t. which of eric’s actions are associated with equity, and which of his actions are associated with efficiency? equity he lets one person eat the whole pie. he makes sure that the whole pie is eaten. he cuts the pie into eight equal slices. he cuts the pie into many slices so that everyone gets a piece.

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.