E$9-18$A$.($Learning Objective $1$: Reporting payroll expense and liabilities$)$ Star Talent Search has an annual payroll of $$220,000.$ In addition, the company incurs a payroll tax expense of $8\%.$At December $31,$ Star owes salaries of $$8,200$ and payroll tax of $$700.$ The company will pay these amounts early next year. Show what Star will report for the foregoing on its Income Statement and year$-$end Balance Sheet.