1. Dole Electronics, a C corporation, has 4 employees. The company sponsors a profit sharing plan and contributed 10% of employee compensation for the current year to the plan. The company has the following employee information. Assume that there is no state income tax.

   How much money can this company write off from its profit?

   How much FICA payroll tax does this company need to pay for its 4 employees?

   How much of Andys benefit (salary plus retirement contribution) is subject to federal income tax?

   How much FICA payroll tax does Sandy need to pay?

GROSS SALARY Andy$50,000 Candy $40,000 Mandy$30,000 $20,000 PROFIT SHARING EMPLOYEE CONTRIBUTION $5,000 $4,000 $3,000 $2,000 Sandy