On January 1, 2018. Ty Belle launched a computer services company. Technology Business Solutions that is organized as a corporation and provides consulting services, computer system installations custom program development and sells computer software. Belle adopts the calendar year for reporting purposes. Technology Business Solutions does not use reversing entries and, therefore, all revenue and expense accounts have zero beginning balances as of June 1, 2018 In June, it's sixth month of operation, the following took place Yeor to Datc YTD Earnings Name Worked Pay Rate Peras of 5/31 90 n/a n/a 170 n/a 130 65 n/a Blair, L $2,000.00 $1,500.00 $2,500.00 $120.00 $1.200.00 $1,400.00 $180.00 $1,100.00 $1,000 $950 $9 Dill, C Downer, J month Hern, R. Mill, C. Troup, P. $10 $8 $1,200 Wando, C hour Will, A month Additional information is as follows: 1 The employee's state income tax withholding is at a rate of 6 0% and federal income tax withholding is at a rate of 7.5%. 2 A normal work month is 160 hours. Any time over 160 hours is paid at 150% of the normal hourly 3 Assurme that gross pay is subject to social security taxes at a 6 2% rate, on an annual base of $118,500 Assume that Medicare taxes are 1 45% of gross earnings These taxes are matched by the employer. No one had earned more than $118,500 during the months leading up to December 4 TBS has 100% participation in a $3 per month employee charitable contribution program. These contributions are withheld from monthly pay 5 TBS pays for workers compensation insurance at a 2.4% of gross pay rate None of this cost is paid by the employee 6. TBS provides employees with a group health care plan, however the cost is fully paid by employees. The rate is $255 per month, per employee 7. TBS's payroll is subject to federal (0 896) and state 255%) unemployment taxes on each employee's gross pay, up to $7,000 per year 8. TBS contributes 3.5% of gross pay to an employee retirement program. Employees do not contribute to this plan. Complete a payroll schedule showing gross pay, all payroll deductions and net pay per employee and in total as shown below We nied to saA up a chart tixe his onfor he enpleger 1. Federal Social Gross Income Security State Income Chartable Health Net Name Earnings Tax Tax Medicare Tax Contributions Insurance amin Prepare all necessary journal entries for TBS payroll and the related payroll expenses as of June 30. The payroll for June will be paid on July 5 ly prepare neanale tyfor all in total 2. 3. Prepare the adjusted trial balance after posting the payrol adjusting entries to the trial balance given for June 30 below. Technology Business Solutions Unadjusted Trial Balance 30-Jun-18 Cr Dr 45,367.00 22,205.00 Cash Accounts Receivable Allowance for Uncoll Accts Prepaid Rent Prepaid insurance Prepaid Deposits Supplies Inv Merchandise Inv 529.00 825.00 1,110.00 1,841.00 2,538.00 28,000.00 3300.00 1,160.00 Accumulated Depreciation Accounts Payable Federal IT Payable SS Tax Payable Medicare Tax Payable State IT Payable Charitable Contributions Pay Health Insurance Payable Federal Unemployment Tax Payable State Unemployment Tax Payable Workers Comp Ins Payable Employee Retirement Payable Wages Payable Notes Payable 9.276.00 73,000.00 Retained Earnings Common Stock Dividends 14,350.00 11,400.00 Saleser Services Rev 0.00 0.00 Sales Discounts Cost of Goods Sold Equipment Rent Exp Equipment Repair Exp 95.00 Mileage Expense Salaries Expense Payroll Tax Expense Worker's Comp Ins Exp 0.00 Employee Health Ins Exp 0.00 Employee Retirement Exp 0.00 Business Ins Expense Telephone Expense Utility Expense Rent Expense Computer Sup Expense 897.00 Bank Charge Exp Depreciation Expense 50.00 Bad Debt Expense 5,775.00 658.00 192.00 0.00 0.00 185.00 205.00 1,500.00 825.00 40.00 207.00 113,015.00 113,015.00 4. Prepare a multi-step income statement for TBS for the month ended June 30 5. Prepare a balance sheet in classified form for TBS at June 30