Dividing Partnership Net Income Required: Steve Queen and Chelsy Stevens formed a partnership, dividing income as follows: Annual salary allowance to Queen of $92,400. Interest of 6% on each partner's capital balance on January 1. Any remaining net income divided to Queen and Stevens, 1:2. Queen and Stevens had $45,000 and $111,000, respectively, in their January 1 capital balances. Net income for the year was $165,000. How much is distributed to Queen and Stevens?

Note: Compute partnership share.

Queen: $

Stevens: $