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

Dividing Partnership Net Income
Steve Jack and Chelsy Stevens formed a partnership, dividing income as follows:
Annual salary allowance to Stevens of $119,280.
Interest of 6% on each partner's capital balance on January 1.
Any remaining net income divided to Jack and Stevens, 1:2.
Jack and Stevens had $48,000 and $75,000, respectively, in their January 1 capital balances. Net income for the year was $213,000.
Required:
How much net income should be distributed to Jack and Stevens?
Jack: $fill in the blank 1
150,940

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