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For the month of December, Payless, Inc.'s gross payroll was $120,000. Income taxes withheld totals $16,000. The FICA (Social Security and Medicare) rate is 7.65%.

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For the month of December, Payless, Inc.'s gross payroll was $120,000. Income taxes withheld totals $16,000. The FICA (Social Security and Medicare) rate is 7.65%. How much cash will Payless, Inc., have to pay to the government for income taxes and FICA on the gross payroll of $120,000? Remember that the company is responsible for paying for both the employee's and the company's share of FICA. DO NOT INCLUDE $ IN YOUR

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