GHI Company compensates its employees for certain absences for vacation and sickness. Employees are entitled to one day vacation plus one day sick leave for each month worked during the year. Unused vacation days may be carried forward, but unused Exercise 1 sick leave does not accumulate. Employees are compensated according to their pay in effect at the time of the leave. The following data were taken from the records for the year 2021. Date of Unused Vacation Sick leave Rate per Employee initial vacation taken in taken in day employment 1/1/2021 2021 2021 Rj 1/10/2019 18 8 5 P 1,000 Pinky 7/28/2020 5 4 10 800 Exercise 1 Janus 9/1/2021 0 2 6 600 continuation Noli 8/1/2021 0 3 5 400 Required: 1. Compute the balance of the account Liability for Compensated Absences at December 31, 2020. 2. Compute the amount of Employee benefit expense for sick leave and vacation leave for the year 2021. 3. Compute the balance of liability for compensated absences at December 31, 2021. 4. Prepare the entry to record the 2021 transactions. Hawkeye Company has a contract with its CEO to pay him a bonus during each of the years 2018 - 2021. The profit before deductions for bonus and income taxes were P12,500 000 in 2018; P18,000,000 in 2019; P21,700,000 in 2020; and P24,000,000 in 2021. The bonus of 20% is deductible for tax purposes in each year. The tax rate is 25%. The 2018 bonus is based on profit before bonus Exercise 2 and taxes . The 2019 bonus is based on profit after bonus but before taxes . The 2020 bonus is based on profit before bonus but after taxes . The 2021 bonus is based on profit after bonus and taxes Compute the amount of the bonus for each year