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As of December 31, 2018, Shutterfly, Inc. had 7,000 full-time and 12,500 part-time employees. Assume in the last pay period of the year, the company paid $8,000,000 to employees after deducting $2,000,000 for employee income taxes, $612,000 for FICA taxes, and $700,000 for other purposes. No payments have been made to the government relating to these taxes. Which of the following statements is true regarding this pay period?- FICA Taxes Payable should be $612,000- FICA Taxes Payable should be $1,224,000- Salaries and Wages Expense should be $8,000,000- None of the above is true
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