Penske Talent Search has an annual payroll of $150,000. At December 31, Penske owes salaries of $7,600 on which employee withholdings payable are $1,200 and employee benefits payable by the company are $1,000. The company has calculated its share of Canada Pension Plan, Employment Insurance, and other employee benefits to be 6% of payroll expense. The company will pay these amounts early next year. Show what Penske will report for the foregoing on its income statement and year-end balance sheet?