Business, 18.03.2020 04:13 cjhenson02

The XYZ Company has 2 employees: John, who earns $300,000 annually, and his assistant, Sally, age 26, who has worked for John for 4 years. Sally earns $20,000 annually. XYZ has a profit-sharing plan with Section 401(k) provisions using graded vesting. Sally's total account balance of $5,500 in the plan consists of the following: Employee contributions: $1,500 Employer contributions: $2,000 Earnings on employee contributions: $800 Earnings on employer contributions: $1,200 If Sally terminated employment with XYZ this year after 4 years of employment, what is her vested account balance?

A. $4,220
B. $2,940
C. $3,580
D. $4,860

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The XYZ Company has 2 employees: John, who earns $300,000 annually, and his assistant, Sally, age 26...

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