Student Center Homework and Tests - Chido. Paraphrasing Tool Quillot Al My Home CengageNOWV2 Onlin eBook Show Me How Calculator Calculator Dividing Partnership Net Income Required: Steve Prince and Chelsy Dane formed a partnership, dividing income as follows: 1. Annual salary allowance to Dane of $141,600. 2. Interest of 6% on each partner's capital balance on January 1. 3. Any remaining net income divided to Prince and Dane, 1:2. Prince and Dane had $99,000 and $75,000, respectively, in their January 1 capital balances. Net income for the year was $240,000. How much is distributed to Prince and Dane? Note: Compute partnership share. 8,880 8,880 Prince: $ Dane: $