Complete Form 941 for the 1st quarter of 2018 for Bouncing Babies Co. (employer identification #33-3333333). Assume that Bouncing Babies Co. (located at 91 Bayberry Avenue, Baton Rouge, LA 70714) chooses to complete and mail Form 941 on the due date. Based on the lookback period, Bouncing Babies Co. is a monthly depositor. Assume that all necessary deposits were made on a timely basis and that the employer made deposits equal to the total amount owed for the quarter. All 32 employees worked during each of the three months, and the company elects to allow its accountant (William Gordon, telephone #225-555-7846, Pin #83463) to discuss the form with the IRS. Additionally, Mr. Gordon signs the form, and no employee is subject to Additional Medicare Tax during the quarter. First quarter earnings and associated taxes withheld from employee earnings are as follows.

Notes:

• For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.

	January Taxes	February Taxes	March Taxes	1st Quarter Earnings
FWT	$12,400.00	$12,720.00	$12,120.00	$331,200
Social Security	$7,579.50	$7,240.36	$7,990.13	$367,903
Medicare	$1,772.63	$1,693.31	$1,868.66	$367,903