Dividing Partnerstip Net income Required: Steve Jack and Chelsy. Poodle formed a partnership, dividing income as follows: 1. Annual salary allowance to Jack of $191,160. 2. Interest of 5% on each partner's capital balance on January 1. 3. Any remaining net income divided to Jack and Poodie, 1:2 Jack and Poodle had $66,000 and $81,000, respectively, in their January 1 capital balances. Net income for the year was $324,000. How much is distributed to Jack and Poodle? Note: Compute partnership share Jack: 5 Poodiet