Old Town Entertainment has two employees in Year 1. Clay earns $4,400 per month, and Philip, the manager, earns month. Neither is paid extra for working overtime. Assume the Social Security tax rate is 6 percent on the first $110,000 of earning and the Medicare tax rate is 1.5 percent on all earnings. The federal income tax $10,500 per withholding is 15 percent of gross earnings for Clay and 19 percent for Philip. Both Clay and Philip have been employed all year. Required a. Calculate the net pay for both Clay and Phillip for March. b. Calculate the net pay for both Clay and Philip for December. c. Is the net pay the same in March and December for both employees? d. What amounts will Old Town report on the Year 1 W-2s for each employee