11 Required Exercise 11-1A Employee compensation-Asset or expense LO 11-1 Cray Company started year 2 with $60,000 in its cash and common stock accounts. During year 2 Cray paid $45,000 cash for 25 oints employee compensation. Assume this is the only transaction that occurred in year 2 Required a. Determine the total amount of assets at the end of year 2, assuming Cray is a manufacturing company and the employees were paid to make products. b. Determine the amount of expense recognized on the year 2 income statement, assuming Cray is a manufacturing company and the employees were paid to make products s.Determine the total amount of assets at the end of year 2, assuming Cray is a service company d. Determine the amount of expense recognized on the year 2 income statement, assuming Cray is a service company Ask Pr Manufacturing a Total assets b Total expenses Service c Total assets d Total expenses Reference6