Which one of the following is an example of a sunk cost? Multiple Choice $1,200 paid to repair a machine last year $20,000 project that must be forfeited if another project is accepted $1,500 of lost sales because an item was out of stock $1,800 increase in comic book sales if a store ceases selling puzzles $4,500 reduction in current shoe sales if a store commences selling sandals

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.