Background Information Review the following statements. Harrow Consulting Firm is a company located in Miami, FL. They have the following four employees: Jada T.she/herl. Lauren F (they/their). William, M. (he/him) and Monica (she/her), Harrow pays their employees on a weekly basis. All employees submitted a Form W-4 for 2020 or later. Employees are paid time-and-a-half for work in excess of 40 hours per week. Florida does not collect state Income tax. Employee payroll data is as follows: Jada received a salary of $2000 during the week of June 24 through June 30. Lauren worked 40 hours during the week of June 24 through June 30. Their rate of pay is $ 19 per hour William worked 42 hours during the week of June 24 through June 30. His rate of pays $17 per hour. Monica worked 40 hours during the week of June 24 through June 30. Their rate of pay is $16 per hour. Their wages are subject to the following deductions 1. Federal income tax (FIT) 2. Social Security tax (FICA 3. Medicare tax (FICA) 4. State Income tax (SIT). If applicable 5. Individual Health Insurance Contribution $100 for salary employees and 550 for hourly employees 6. In addition, the following are deducted from the specified employee dada makes a charitable contribution of $20 per pay check Jada and William have $50 deducted from their pay for OIK. Additional Information: Federal Income Tax is taxable at a rate of 5% for salary employees and 10% for hourly employees The Social Security tax rate is 6.2 percent. Taxable earnings for Social Security are based on the first 5142,800 Gin 20211. The Medicare tax rate is 1.45 percent. Taxable earnings for Medicare are based on all earnings. Earning Withholding Current Beginning Period Ending Earnings Cumulative 401) Federal Income Employee Earnings (Fill-in from Earnings Health Total OASDI Medicare Charity Insurance Deductions Tax Name Withholding Pay above) (A) (A+B) (B) Net Vada, T. 42,000 Lauren, 5.400 William M. 16,800 Monica B 17.920 BO'F Start Qull 2