Dividing Partnership Net Income Required: Steve Jack and Chelsy Poodle formed a partnership, dividing income as follows 1. Annual salary allowance to Jack of $173,850. 2. Interest of 6% on each partner's capital balance on January 1. 3.Any remaining net income divided to Jack and Poodle, 1:2. Jack and Poodle had $94,160 and $97,560, respectively, in their January 1 capital balances. Net income for the year was $305,000. How much is distributed to Jack and Poodle? Note: Compute partnership share to two decimal places. Round final answers to the nearest whole dollar. Jack: 219,382 X Feedback Check My Work Set up a column for each partner and a total column. The amount of net income that should be distributed to each partner should include: the partner's salary allowance, the interest on the partner's capital balance, and any remaining income divided based on the partnership agreement. If the net income is less than the total of the salary and interest allowances, then the remaining net income to divide is a negative amount, as though it were a net loss