Required information (The following information applies to the questions displayed below.) The following summary data for the payroll period ended December 27, 2018, are available for Cayman Coating Co.: $ 99,000 Gross pay FICA tax withholdings Income tax withholdings Group hospitalization insurance Employee contributions to pension plan Total deductions Net pay 14,900 1,270 25,846 ? Additional information: For employees, FICA tax rates for 2018 were 7.65% on the first $118,500 of each employee's annual earnings. However, no employees had accumulated earnings for the year in excess of the $118,500 limit For employers, FICA tax rates for 2018 were also 7.65% on the first $118,500 of each employee's annual earnings. The federal and state unemployment compensation tax rates are 0.6% and 5.4%, respectively. These rates are levied against the employer for the first $7.000 of each employee's annual earnings. Only $14,800 of the gross pay amount for the December 27, 2018, pay period was owed to employees who were still under the annual limit. uired: Assuming that Cayman Coating Co.'s payroll for the last week of the year is to be paid on January 3, 2019, use the horizontal del to record the effects of the December 27, 2018, entries for Accrued payroll. Indicate the financial statement effect. (Enter reases with a minus sign to indicate a negative financial statement effect.) Balance Sheet Liabilities - Withholding liabilities Income Statement Revenues Assets + Stockholders' Equity Net Income Expens 98,000 Wages expense