ohn and Jack own a partnership. The partnership agreement contains the below facts. How much net income will be distributed to Jack? Net Income (20X5) = $ 420,000 Beginning Capital Balances (2004) John 110,000.00 Jack 120,000.00 Partnership Agreement 1) John receives a $ 30,000 salary each year. 2) Each partner receives a 10% allowance based on the partner's beginning capital balance. 3) Any remainder will be split based on a 6:4 split (John = 6 & Jack = 4).

What is the third number in the amount Jack will receive?

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