How would you solve for box 1 of the W-2 with this information? The answer is $55,531 so I just need the explanation as to how to get that number. I do know that we would have to start off with the salary and subtract or add the others on to that. So far I have $75,000 - $4,500 (401(k) Contributions) - $2,700 ( FSA Contributions) + $1,981.20 ( Group - term). Are my calculations wrong for these and also what am I missing. Thank you! As stated, the information needed for this question is below:

His annual salary is $75,000. Tron. Inc withholds $2,587 of his salary for federal taxes. Jay receives the following employment related benefits during 2019:

Tron. Inc provides all employees with medical insurance (Jay's insurance cost the company $7,670) and group-term life insurance at three-times their annual salary up to a maximum coverage of $180,000 (Jay's premiums paid by Tron. Inc. cost $496).

Tron Inc has a qualified 401(k) plan that covers all employees. Under the plan, Tron. Inc. matches one-fifth of an employees contributions to the plan up to 5% of the employee's annual salary. Jay maximizes Tron. Inc retirement contribution match.

Jay contributes $2,700 into a flexible spending accounting (FSA) for medical expenses.

Jay is injured while skiing at Switzerland. He sues the individual who ran into him and receives $2,500 for medical expenses, $1,000 for pain and suffering, and $2,500 in punitive damages.