Ch 13 In-Class Assignment (graded, independent work) The following is the annual salary for employees at Puffy Puffs (bakery). All employees on the list are full-time employees and the salaries listed are the annual salary (for the full year). Eligilbe employees received bonus on November 30, 2020. The company is on a bi-weekly payroll cycle totla 26 payrolls in a year. The EI rate is 1.58% and the maximum annual EI insurable earning is $54,200). The employer is obliged to contribute 1.4 times the EI as the employee's contribution. Annual CPP Pensionable earning was $58,700 The CPP rate is 5.45% for the employee and the employer. Assuming a 15% income tax rate for the first $70,000 employment income; and 20% income tax rate for employment income above $70,000. Group health benefits employee / employer cost sharing on a 30%/70% split and pay to Canada Life Insurance. Puffy Puffs is a private company following ASPE. Last payroll in December 2020 (bi-weekly pay) Employee name Annual salary Bonus (paid) Bi-weekly gross (without bonus) Income tax deducted CPP-employee CPP-employer EI-employee EI-employer Group health benefit (cost at 100%) Group health benefit - employee's cost share Group health benefit - employer's cost share Part a L. Smith 68,000 3,600 J. Peters 48,500 500 H.Lou 53,000 2,500 M.Clark 58,000 1,200 Total 227,500 7,800 0 0 0 0 0 0 0 0 0 1 point 2 points 3 points 1 point 3 points 1 point 1 point 1 point Instructions: a. Complete cells highlighted in yellow in the table per above. Assuming it was the last payroll in December 2020. Round amonts with no decimal. 13 points b. Prepare the necessary journal entries (JE) to record the payment of the last payroll in December 2020 to the four (4) employees in one consolidated JE (i.e. no need to list the details by employee) c. Prepare the necessary journal entries (JE) to record the employer's payroll costs. d. Prepare the necessary journal entries (JE) to record payment of the relevant payroll liabilities due to the Receiver General (i.e. the Canada Revenue Agency) e. For every dollar of salaries and wages paid in the year 2020 by Puffy Puffs, what is the actual payroll cost to the employer? Round to tow (2) decimal places.