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Dividing Partnership Net IncomeSteve Queen and Chelsy Bernard formed a partnership, dividing income as follows:Annual salary allowance to Queen of $ 1 1 2 ,

Dividing Partnership Net IncomeSteve Queen and Chelsy Bernard formed a partnership, dividing income as follows:Annual salary allowance to Queen of $112,560.Interest of 6% on each partner's capital balance on January 1.Any remaining net income divided to Queen and Bernard, 1:2.Queen and Bernard had $51,000 and $105,000, respectively, in their January 1 capital balances. Net income for the year was $201,000.How much net income should be distributed to Queen and Bernard?

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