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Dividing Partnership Net Income Steve Conyers and Chelsy Boxer formed a partnership, dividing income as follows: 1 . Annual salary allowance to Boxer of $

Dividing Partnership Net Income Steve Conyers and Chelsy Boxer formed a partnership, dividing income as follows:
1. Annual salary allowance to Boxer of $92,040.
2. Interest of 6% on each partner's capital balance on January 1
3. Any remaining net income divided to Conyers and Boxer, 1:2 Conyers and Boxer had $ 63,000 and $75,000, respectively , in their January 1 capital balances. Net income for the year was $156,000. How much net income should be distributed to Conyers and Boxer?

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