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Exercise 13-37 (Algorithmic) (LO. 5) Andrea is an employee of Fern Corporation. She also has her own business working as a life coach. For 2016,

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Exercise 13-37 (Algorithmic) (LO. 5) Andrea is an employee of Fern Corporation. She also has her own business working as a life coach. For 2016, Andrea's wages from Fern were $252,000. Her self-employment income was $53,000 (line 4, Form SE, based on 92.35% of net earnings as a life coach). If required, round any computations to two decimal places. Round final answers to the nearest dollar. a. Compute the payroll, self-employment, and additional Medicare taxes for Andrea for 2016 b. Assume the same facts except that Andrea's 2016 self-employment activities resulted in a loss of $25,000. Compute the payroll, self employment, and additional Medicare taxes for Andrea for 2016 c. Compute Andrea's NIT for 2016 using wages of $252,000, allocable to any investment income. ) self-employment income of $53,000 and NII of $29,600. There are no expenses

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