Alex Hutchins and Caitlin Jenkins formed a partnership, dividing income as follows:
1. Annual salary allowance to Hutchins of $24,000.
2. Interest of 12% on each partner’s capital balance on January 1.
3. Any remaining net income divided to Hutchins and Jenkins, 2:1.
Hutchins and Jenkins had $60,000 and $80,000, respectively, in their January 1 capital balances. Net income for the year was $36,000.
How much net income should be distributed to Hutchins?