Emmett and Sierra formed a partnership dividing income as follows 1. Annual salary allowance to Emmett of $38,500 2. Interest of 8% on each partner's capital balance on January 1 3. Any remaining net income divided equally. Emmett and Sierra had $25,800 and $127,000, respectively in their January 1 capital balances. Net income for the year was $205,000. How much net income should be distributed to Emmett