Blaine Pierce and Meg Adkins formed a partnership, dividing income as follows:
1. Annual salary allowance to Adkins of $49,000.
2. Interest of 12% on each partner's capital balance on January 1.
3. Any remaining net income divided equally.
Pierce and Adkins had $40,000 and $120,000, respectively, in their January 1 capital balances.
Net income for the year was $180,000.
How much net income should be distributed to Adkins?