Dividing Partnership Net Income Required: Steve Jack and Chelsy Boxer formed a partnership, dividing Income as follows: 1. Annual salary allowance to Jack of $67,210. 2. Interest of 5% on each partner's capital balance on January 1. 3. Any remaining net Income divided to Jack and Boxer, 1:2. Jack and Boxer had $102,000 and $87,000, respectively, in their January 1 captal balances. Net Income for the year was $153,000. How much is distributed to Jack and Boxer? Note: Compute partnership share. Jack Boxer