Platinum Records has five employees who are paid on the 1st and 15th of each month for the work they performed in the preceding half-month. On November 30 , each employee is owed gross pay of $1,400, but each one must have 10% of pay withheld for income taxes. Each must also make Canada Pension Plan contributions of 5.45% of gross pay as well as pay Employment Insurance premiums of 1.58% from gross pay. Read the requirements. Requirement 1. Prepare the payroll journal entries required to reflect these amounts, along with Platinum's share of CPP contributions and El premiums, in Platinum's November 30 financial statements. Prepare the journal entry to record the accrual of the payroll on November 30. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Round your answers to the nearest cent.) 1. Prepare the payroll journal entries required to reflect these amounts, along with Platinum's share of CPP contributions and El premiums, in Platinum's November 30 financial statements. 2. Show what Platinum would report on its Balance Sheet as of November 30 and on its Income Statement for the month ended on that date. Prepare the journal entry to record the related employer's liability on November 30 . For CPP, assume the employer matches the employee's contribution dollar for dollar. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Round your answers to the nearest cent.) Requirement 2. Show what Platinum would report on its Balance Sheet as of November 30 and on its Income Statement for the month ended on that date. Prepare the liability section of Platinum Records' Balance Sheet for November 30. (If an input field is not used on the Balance Sheet, leave the input field empty; do not select a label or enter a zero. Round your answers to the nearest cent.) Prepare the partial Income Statement sheet for the month ending November 30 . (If an input field is not used in the Income Statement, leave the input field empty; do not select a label or enter a zero. Round your answers to the nearest cent.)