Dividing Partnership Net Income

Steve Queen and Chelsy Dane formed a partnership, dividing income as follows:

Annual salary allowance to Queen of $$121,410.$

Interest of $5\%$ on each partner's capital balance on January $1.$

Any remaining net income divided to Queen and Dane, $1$:$2.$

Queen and Dane had $$90,000$ and $$87,000,$ respectively, in their January $1$ capital balances. Net income for the year was $$213,000.$

How much net income should be distributed to Queen and Dane?

Queen: $

Dane: $

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Set up a column for each partner and a total column. The amount of net income that should be distributed to each partner should inclu interest on the partner's capital balance, and any remaining income divided based on the partnership agreement. If the net income is le interest allowances, then the remaining net income to divide is a negative amount, as though it were a net loss.