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Dividing Partnership Net Income Required: Steve Jack and Chelsy Dane formed a partnership, dividing income as follows: 1. Annual salary allowance to Dane of $131,040. 2. Interest of 7% on each partner's capital balance on January 1. 3. Any remaining net income divided to Jack and Dane, 1:2. Jack and Dane had $99,000 and $81,000, respectively, in their January 1 capital balances. Net income for the year was $234,000. How much is distributed to Jack and Dane? Note: Compute partnership share. Jack: $ Dane: $ X