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Emmett and Sierra formed a partnership dividing income as follows: Annual salary allowance to Emmett of $41,800 Interest of 8% on each partner's capital balance on January 1 Any remaining net income divided equally. Emmett and Sierra had $38,800 and $124,500, respectively in their January 1 capital balances. Net income for the year was $215,600. How much net income should be distributed to Emmett?.

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Emmett and Sierra formed a partnership dividing income as follows: Annual salary allowance to Emmett of $41,800 Interest of 8% on each partner's capital balance on January 1 Any remaining net income divided equally. Emmett and Sierra had $38,800 and $124,500, respectively in their January 1 capital balances. Net income for the year was $215,600. How much net income should be distributed to Emmett?

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