Function: SUM; Formula: Subtract, Multiply; Cell Referencing Using Excel to Calculate Payroll Amounts PROBLEM Betsy Strand's payroll information is provided here. Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem area or work area as appropriate. Use the SUM function to add any necessary amounts. Regular hourly wage rate Hourly rate for work in excess of 40 hours Hours worked during a January pay period Federal income tax withholding FICA tax rate $ 16.00 $ 24.00 47 $ 95.00 7.65% Compute Betsy Strand's gross earnings and net pay for the pay period. Betsy has no voluntary deductions. Gross earnings Regular pay Overtime pay Total gross earnings $ Gross earnings FICA taxes withheld Federal income taxes withheld Net pay