Steve Jack and Chelsy Boxer formed a partnership dividing in

Steve Jack and Chelsy Boxer formed a partnership, dividing income as follows: Annual salary allowance to Jack of $168,200. Interest of 7% on each partner\'s capital balance on January 1. Any remaining net income divided to Jack and Boxer, 1:2. Jack and Boxer had $55,520 and $112,600, respectively, in their January 1 capital balances. Net income for the year was $290,000. How much is distributed to Jack and Boxer?

Calculate How much is distributed to Jack and Boxer?

	Jack	Boxer	Total
Net income			290000
Salary allowance	168200		(168200)
Interest on capital	3886	7882	(11768)
			110032
Profit distribution	36677	73355	(110032)
Total distribution for partners	208763	81237

$Steve Jack and Chelsy Boxer formed a partnership, dividing income as follows: Annual salary allowance to Jack of $168,200. Interest of 7% on each partner\'s cap$

Steve Jack and Chelsy Boxer formed a partnership dividing in

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