gagenow.com Dividing Partnership Net Income Required: Steve Prince and Chelsy Bernard formed a partnership, dividing income as follows: 1. Annual salary allowance to Prince of 2. Interest of 6% on each partner's capital 3. Any remaining net income divided to Prince $159,500. balance on January 1 and Bernard, 1:2. Prince and Bernard had $94,160 and $75,000, respectively, in their January 1 capital balances. Net income for the year was $290,000. How much is distributed to Prince and Bernard? Note: Compute partnership share to two decimal places. Round final answers to the nearest whole dollar Prince: Bernard