Calculate Payroll An employee earns $32 per hour and 1.75 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 50 hours during the week, and that the gross pay prior to the current week totaled $46,400. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and federal income tax to be withheld was $423 a. Determine the gross pay for the decimal places. If applicable, round your final arise b. Determine the net pay for the week. hop Current Liabilities Bon Nebo Co. sold 15,000 annual subscriptions of Magazine 20XX for $64 during December 20Y8. These new subscribers will receive monthly issues, beginning in January 2019. In addition, the business had taxable income of $604,000 during the first calendar quarter of 2049. The tax rate is 40%. A quarterly tax payment will be made on April 12, 2049 Prepare the Current Liability e balance sheet for Bon Nebo Co. on March 31, 2049 Bon Nebo co. Current Liabilities Section of Balance Sheet March 31, 2019 Federal income taxes payable Advances on magazine subscriptions