Dividing Partnership Net Income Required: Steve King and Chelsy Stevens formed a partnership, dividing income as follows: Annual salary allowance to King of $101,750. Interest of 7% on each partner's capital balance on January 1. Any remaining net income divided to King and Stevens, 1:2. King and Stevens had $77,600 and $90,040, respectively, in their January 1 capital balances. Net income for the year was $185,000. How much is distributed to King and Stevens? Note: Compute partnership share to two decimal places. Round final answers to the nearest whole dollar.

King: $

Stevens: $