Dividing Partnership Net Income Steve Conyers and Chelsy Bernard formed a partnership, dividing income as follows: 1. Annual salary allowance to Conyers of $111,510. 2. Interest of 6% on each partner's capital balance on January 1. 3. Any remaining net income divided to Conyers and Bernard, 1:2. Conyers and Bernard had $66,000 and $111,000, respectively, in their January 1 capital balances. Net income for the year was $189,000. Required: How much net income should be distributed to Conyers and Bernard? Conyers: Bernard