Show Me Dividing Partnership Net Income Steve King and Chelsy Dane formed a partnership, dividing income as follows Annual salary a 2- Interest of 6% on each partner's capital balance on January 1. 3. Any remaining net income divided to King and Dane, 1:2 1 lowance to Dane of $85,500 King and Dane had $72,000 and $87,000, respectively, in their Janusry 1 capital balanoes. Net income for the year was $150,000. How much is distributed to king and Dane Note: Compute King of net income hat shouid be dstrbuted to each parther total of the selary and inrest alowances partners capital balace, and any emaining income divided based on the partnenhip agreement the net income is less than the amount as though twere a net loss net income to divide is a negiaive a All work saved