Mike Wallace is a general manager at the local Fox News channel. During 2018, Wallace worked for the company all year at $2 1,000 monthly salary. He also earned a year-end bonus equal to 6% of his annual salary. Wallace's Federal income tax withheld during 2018 was 20 %. State income tax withheld was 6%. FICA tax was withheld on the annual earnings (remember the Social Security limit of s18,400). Wallace authorized the following payroll deductions: Charity Fund of 2% of total earnings and life insurance of $25 per month. Fox News incurred payroll tax expense on Wallace for FICA taxes. Federal unemployment and State Unemployment taxes were S1,254 and $2,456, respectively. They also paid $7,200 in Health Insurance (payable) for Wallace Compute Wallace's gross pay, payroll deductions, and net pay for the full year 2018 Round all amounts to the nearest dollar. 2 Compute Fox News' total 2018 payroll tax expense for Wallace. 3 Make the journal entry to record Fox News' expense for Wallace's total earnings for the year, his payroll deductions, and net pay. Debit Salary Expense and Bonus Expense as appropriate. Credit liability accounts for the payroll deductions and Cash for net pay Make the journal entry to record the accrual of Fox News' payroll for Wallace's total eanings. 4 S Make the journal entry for the payment of the payroll withholdings and taxes