has an annual payroll of . In addition, the company incurs payroll tax expense of % of the annual payroll. At , owes salaries of and FICA and other payroll tax of . The company will pay these amounts early next year. Requirement 1. Show what will report for the foregoing on its income statement for the year and on its year-end balance sheet. (If an input field is not used in the table leave the field empty; do not select a label or enter a zero.) Question content area bottom Part 1 Start with the income statement. Income Statement Account Amount Expenses: Salary and wage expense 170000 Payroll tax expense 68000 238000