Dividing Partnership Net Income Steve Jack and Chelsy Stevens formed a partnership, dividing income as follows: 1. Annual salary allowance to Jack of $39,000. 2. Interest of 10% on each partner's capital balance on January 1. 3. Any remaining net income divided equally Stevens and Jack had $25,000 and $138,000, respectively, in their January 1 capital balances. Net income for the year was $230,000. How much net income should be distributed to Jack