Jim and Stan formed a tax consulting partnership on February 1, 2018. Each partner contributed $50,000 in return for an equal share of the profits from the partnership. On January 1, 2022, Stan sold his interest to Julie for $150,000. The following is the income statement of the partnership: Jim and Stan Income Statement For the year ended December 31, 2021 Gross revenue $424,400 Expenses: Office expenses $69,000 Rent 58,300 Office salaries 74,300 Charitable donations 10,600 Amortization (Note 1) 23,300 Meals and entertainment 15,000 250,500 173,900 Other income: Gain on sale of shares (Note 2) $84,800 Dividends from Canadian-resident public corporations 40,000 Capital dividends 17,000 141,800 Net income $315,700 Notes: Capital cost allowance (CCA) for 2021 was $40,300. The capital gain for tax purposes is the same as the financial accounting gain. In 2021, each partner drew $132,000. Prior year financial statements of the partnership provided the following information for the following years ended December 31: 2018 2019 2020 Business income (loss) $(70,000) $127,300 $159,100 Taxable capital gains - 12,800 - Charitable donations - 4,200 8,400 Drawings Jim 24,000 48,000 60,000 Drawings Stan 24,000 48,000 72,000 Required: What is the partnership income for the year for tax purposes? (no dollar signs, round to nearest dollar)