S7-2 (similar to) Question Help Golden Records has four employees who are paid on the 1st and 15th of each month for the work they performed in the preceding half-month. At April 30, each employee is owed gross pay of $1,250, but each one must have 10% of their pay withheld for income taxes. Each must also make Canada Pension Plan contributions of 5.1% of their gross pay and pay Employment Insurance premiums of 1.62% of their gross pay. The following entries were recorded for the month of April: (Click on the icon to view the journal entries.) Show what Golden would report on its balance sheet at April 30 and on its income statement for the month ended on that date. Prepare the liability section of Golden Records' balance sheet at April 30. (Leave any unused cells blank. Enter amounts to the nearest cent.) Golden Records Balance Sheet (partial) As at April 30 Llabilities: Current Liabilities: Choose from any list or enter any number in the input fields and then click Check Answer. 1 part remaining Clear All Check Answer Date Accounts and Explanation Debit Credit Apir 30 5,000.00 500.00 255.00 Salaries Expense Employee Income Tax Payable Canada Pension Plan Payable Employment Insurance Payable Salaries Payable To record salaries and employee withholdings payable. 81.00 4,164.00 Date Debit Credit Apr. 30 255.00 Accounts and Explanation Canada Pension Plan Expense Employment Insurance Expense Canada Pension Plan Payable Employment Insurance Payable 113.40 255.00 113.40 To record employer portion of CPP and El withholdings payable