58 PE 12-2A Dividing partnership net income Han Lee and Monica Andrews formed a partnership, dividing income as follows: 1. Annual salary allowance to Lee of $32,000. OBJ. 2 2. Interest of 4% on each partner's capital balance on January 1. 3. Any remaining net income divided to Lee and Andrews, 2:1. Lee and Andrews had $80,000 and $150,000, respectively, in their January ances. Net income for the year was $64,000. How much net income should be distributed to Lee and Andrews? capital bal-