Dividing Partnership Net Income Steve Prince and Chelsy Poodle formed a partnership, dividing income as follows: 1. Annual salary allowance to Prince of $173,250. 2. Interest of 5% on each partner's capital balance on January 1. 3. Any remaining net income divided to Prince and Poodle, 1:2. Prince and Poodle had $99,000 and $117,000, respectively, in their January 1 capital balances. Net income for the year was $315,000. How much net income should be distributed to Prince and Poodle? Prince: 218,516. X Poodle: $86,483.3 X