Bramble Corp. received $93000 in cash and a used computer with a fair value of $348000 from Blossom Company for Bramble Corp.'s existing computer having a fair value of $441000 and an undepreciated cost of $413400 recorded on its books. The transaction has no commercial substance. How much gain should Bramble recognize on this exchange, and at what amount should the acquired computer be recorded, respectively

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.