Sometimes compensation packages include bonuses designed to provide performance incentives to employees. The difficulty a bonus can cause accountants is not an accounting problem, but a math problem. The complication is that the bonus formula sometimes specifies that the calculation of the bonus is based in part on the bon us itself. This occurs anytime the bonus is a percentage of income because expenses are components of income, and the bonus is an expense. Regalia Fashions has an incentive compensation plan through which a division manager receives a bonus equal to 15% of the division's net income. Division income in 2018 before the bonus and income tax was $125,000. The tax rate is 30% Required: 2. Calculate the amount of the bonus. 3. Prepare the adjusting entry to record the bonus compensation. 4. Bonus arrangements take many forms. Suppose the bonus specifies that the bonus is 15% of the division's income before tax, bu after the bonus itself. Calculate the amount of the bonus. Complete this question by entering your answers in the tabs below. Required 2 Required 3 Required 4 Calculate the amount of the bonus. (Do not round intermediate calculations and round your dollar amount.) Amount of the bonus KRequired 2 Required 3 entry worksheet 1 Record the bonus compensation. es Note: Enter debits before credits. Event General Journal Debit Credit 1 View general journal Record entry Clear entry Required 2 Required 3 Required 4 Bonus arrangements take many forms. Suppose the bonus specifies that the bonus is 1 but after the bonus itself. Calculate the amount of the bonus. (Round your answers to t Amount of the bonus Required 3 Required