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Studying K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: For hourly

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K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. For the current pay period, the computer programmer worked 51 hours and the administrator worked 62 hours. Assume further that the social security tax rate was 6%, and the Medicare tax rate was 1.5%. Determine the gross pay and the net pay for each of the three employees for the current pay period. Assume the normal working hours in a week are 40 hours. If required, round your answers to two decimal places. Current Liabilities Bon Nebo Co. sold 13,500 annual subscriptions of Bjorn for $58 during December 20Y5. These new subscribers will receive monthly issues, beginning in January 20Y6. In addition, the business had taxable income of $492,000 during the first calendar quarter of 20Y6. The federal tax rate is 40%. A quarterly tax payment will be made on April 12 , 20Y6. Prepare the "Current liabilities" section of the balance sheet for Bon Nebo Co. on March 31,20Y6

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