Dividing Partnership Net Income Steve Jack and Chelsy Poodle formed a partnership, dividing income as follows: 1. Annual salary allowance to Jack of $97,440. 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 $75,000 and $87,000, respectively, in their January 1 capital balances. Net income for the year was $168,000. Required: How much net income should be distributed to Jack and Poodle? Jack: q Poodle: $