Louis Welch is general manager of Stonyside Salons. During 2024, Welch worked for the company all year at a $10,600 monthly salary. He also earned a year-end bonus equal to 15% of his annual salary. Welch's federal income tax withheld during 2024 was $2,544 per month, plus $6,106 on his bonus check. State income tax withheld came to $90 per month, plus $70 on the bonus. FICA tax was withheld on the annual earnings. Welch authorized the following payroll deductions: Charity Fund contribution of 4% of total earnings and life insurance of $15 per month. Stonyside incurred payroll tax expense on Welch for FICA tax. The company also paid state unemployment tax and federal unemployment tax. (Click the icon to view payroll tax rate information.) Read the t Requirement 1. Compute Welch's gross pay, payroll deductions, and net pay for the full year 2024. Round all amounts to the nearest dollar. Begin by computing Welch's gross pay for the year. (Round all amounts to the nearest dollar.) Requirements 1. Compute Welch's gross pay, payroll deductions, and net pay for the full year 2024. Round all amounts to the nearest dollar. 2. Compute Stonyside's total 2024 payroll tax expense for Welch. 3. Make the journal entry to record Stonyside's expense for Welch's total earnings for the year, his payroll deductions, and net pay. Debit Salaries Expense and Bonus Expense as appropriate. Credit liability accounts for the payroll deductions and Cash for net pay. An explanation is not required. 4. Make the journal entry to record the accrual of Stonyside's payroll tax expense for Welch's total earnings. 5. Make the journal entry for the payment of the payroll withholdings and taxes