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Please help! eBook Show Me How Calculator Print Item Dividing Partnership Net Income Required: Steve Jack and Chelsy Stevens formed a partnership, dividing income as

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eBook Show Me How Calculator Print Item Dividing Partnership Net Income Required: Steve Jack and Chelsy Stevens formed a partnership, dividing income as follows: 1. Annual salary allowance to Jack of $152,190. 2. Interest of 6% on each partner's capital balance on January 1. 3. Any remaining net income divided to Jack and Stevens, 1:2 Jack and Stevens had $48,000 and $87,000, respectively, in their January 1 capital balances. Net Income for the year was $267,000. How much is distributed to Jack and Stevens? Note: Compute partnership share. Jack: Stevens

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