Old Town Entertainment has two employees in Year 1. Clay earns $3,600 per month, and Phillp, the manager, earns $10,800 per month. Neither is pald extra for working overtime. Assume the Social Security tax rate is 6 percent on the first $130,000 of eaming and the Medicare tax rate is 1.5 percent on all earnings. The federal income tax withholding is 15 percent of gross earnings for Clay and 20 percent for Phillp. Both Clay and Philip have been employed all year. Required a. Caiculate the net pay for both Clay and Philip 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? Complete this question by entering your answers in the tabs below. Calculate the net pay for both Clay and Phillp for March. Calculate the net pay for both Clay and Philip for December