Riverside Ltd. has completed the payroll for January 2015, reflecting the following data:

Required:
1. What amount of additional compensation expense must be paid by the company? What was the amount of the employees€™ take- home pay?
2. List the liabilities that are reported on the company€™s statement of financial position at January 31, 2015. The employees€™ take- home pay was paid on that day.
3. Would employers react differently to a 4 percent increase in the employer€™s share of CPP than to a 4 percent increase in the basic level of salaries? Would financial analysts react differently?

Salaries and wages earned Employee income taxes withheid CPP contributions El contributions Union dues withheld $69,000 16,900 3,415 1,242 1,200 $3,415 each for employer and employee. Employment Insurance, employees share.