Compute the net pay for Karen Wilson and Katie Smith. Assume that they are paid a $2,650 salary biweekly, subject to federal income tax (use the wage-bracket method) in Appendix C and FICA taxes, and have no other deductions from their pay. They have a state tax rate of 3 percent. If they choose to participate in the cafeteria plan, the deduction for the pay period is $100; otherwise, there is no deduction for the cafeteria plan. The cafeteria plan qualifies under Section 125. You do not need to complete the number of hours. Additional information for Karen: Box 2 is not checked and the dependents are under 17. Additional information for Katie: Box 2 is checked. (Round your intermediate calculations and final answers to 2 decimal places.) Answer is not complete. Name Filing Status Hourly Rate or Period wage No. of Regular Hours No. of Overtime Hours No. of Holiday Commissions Hours Karen Wilson-no cafeteria plan Karen Wilson-cafeteria plan MJ-2 $ 2,650.00 MJ-2 $ 2,650.00 Katie Smith-no cafeteria plan Katie Smith-cafeteria plan S-0 $ 2,650.00 S-0 $ 2,650.00 Gross Earnings Section 125 Taxable Wages for Federal/ State W/H $ 2,650.00 $ 0.00 $ 2,650.00 Taxable Wages for FICA $ 2,650.00 $ 2,650.00 $ 100.00 $2,550.00 $ 2,550.00 $ 2,650.00 $ 0.00 $ 2,650.00 $ 2,650.00 $ 2,650.00 $ 100.00 $ 2,550.00 $ 2,550.00 Name Gross Earnings Taxable Wages for Federal / State W/H Taxable Wages for FICA Federal W/H Social Security Tax Medicare W/H Tax State W/H Tax Net Pay Karen Wilson-no cafeteria plan Karen Wilson-cafeteria plan Katie Smith-no cafeteria plan Katie Smith-cafeteria plan $ 2,650.00 $ 2,650.00 $ 2,650.00 $ 299.00 $ 2,650.00 $ 2,550.00 $ 2,550.00 $ $ 2,650.00 $ 2,650.00 $ 2,650.00 $ $ 211.00 $ 318.00 $ 152.52 147.25 144.58 $ $ $ 35.67 34.44 33.81 x $ 2,650.00 $ 2,550.00 $ 2,550.00 $ 292.00 140.00 $ 32.74