On January 1, 2008, East Corporation adopted a defined benefit pension plan. At plan inception, the prior service cost was \($60,000\). In 2008, East incurred service cost of \($150,000\) and amortized \($12,000\) of prior service cost. On December 31, 2008, East contributed \($160,000\) to the pension plan. East assumes a 6% discount rate and 5% expected rate of return.
Required:
At December 31, 2008, what amounts should East report as a pension asset (liability) and AOCI on its balance sheet?