Dividing Partnership Net Income Required: Steve Conyers and Chelsy Boxer formed a partnership, dividing income as follows: 1. Annual salary allowance to Conyers of $97,440. 2. Interest of 5% on each partner's capital balance on January 1. 3. Any remaining net income divided to Conyers and Boxer, 1:2. Conyers and Boxer had $66,000 and $81,000, respectively, in their January 1 capital balances. Net income for the year was $174,000. How much is distributed to Conyers and Boxer? Note: Compute partnership share. Conyers: $ Boxer: $