Dividing Partnership Net Income Steve Prince and Chelsy Dane formed a partnership, dividing income as follows: 1. Annual salary allowance to Dane of $161,700. 2. Interest of 5% on each partner's capital balance on January 1. 3. Any remaining net income divided to Prince and Dane, 1:2. Prince and Dane had $78,000 and $87,000, respectively, in their January 1 capital balances. Net income for the year was $294,000. Required: How much net income should be distributed to Prince and Dane? Prince: $ Dane: $