Dividing Partnership Net Income Steve Jack and Chelsy Stevens formed a partnership, dividing income as follows: 1. Annual salary allowance to Stevens of $169,290. 2. Interest of 5% on each partner's capital balance on January 1. 3. Any remaining net income divided to Jack and Stevens, 1:2. Jack and Stevens had $66,000 and $87,000, respectively, in their January 1 capital balances. Net income for the year was $297,000. Required: How much net income should be distributed to Jack and Stevens? Jack: Stevens