Steve King and Chelsy Dane formed a partnership, dividing income as follows: 1.Annual salary allowance to Dane of $154,560. 2.Interest of 7% on each partner's capital balance on January 1. 3.Any remaining net income divided to King and Dane, 1:2. King and Dane had $63,000 and $105,000, respectively, in their January 1 capital balances. Net income for the year was $276,000. How much is distributed to King and Dane? Note: Compute partnership share.