Dividing Partnership Net Income Required: Steve Jack and Chelsy Poodle formed a partnership, dividing income as follows: 1. Annual salary allowance to Jack of $171,600. 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 $84,000 and $105,000, respectively, in their January 1 capital balances. Net income for the year was $312,000. How much is distributed to Jack and Poodle? Note: Compute partnership share. Jack: $ Poodle: $