Review the liabilities section of the balance sheet for Rings and Things. What problem can you identify with the payroll information, particularly as it relates to how much the one employee gets paid? What solution would you offer Janet and Omar?

Explanation:

Most of the liability costs are coming from payroll, the individual salesperson. This employee only worked for 20 hours during April, and yet still makes an income of $1000 dollars. This means they have an hourly rate of $50 an hour, which is way more than the standard employee should be making. I would recommend Janet and Omar to decrease the hourly rate to something more standard, like minimum wage. This would decrease their liability costs by more than 50% because California's minimum wage rate is only about $12-13.

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