The following summary data for the payroll period ended December 27, 2018, are available for Cayman Coating Co TWISS DAY Teme te vithholdings Employes ontributions to pensipl Tatal deductices Met pay 00.000 15.250 1150 Additional Information: For employees, FICA tax rates for 2018 were 765% 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 mi For employers, FICA tax rates for 2018 were also 765% 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 $15,400 of the gross pay amount for the December 27, 2018, pay period was owed to employees who were still under the annual limit Required 6-1. 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 model to record the effects of the December 27, 2018, entries for Accrued payroll. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Assets Balance Sheet Liabilities Income Statement Stockholders' Equity Net Income Revenues