Hass Foods Inc. sponsors a post-retirement medical and dental benefit plan for its employees. The company adopted the provisions of IAS 19 beginning January 1, 2020. The following balances relate to this plan on January 1, 2020: 

Plan assets............................................................$2,780,000 

Defined post-retirement benefit obligation.......3,439,800 

Past service costs.............................................................−0− 

As a result of the plan's operation during 2020, the following additional data were provided by the actuary. 

1. The service cost for 2020 was $273,000. 

2. The discount rate was 7%. 3. Funding payments in 2020 were $234,000. 

4. The actual return on plan assets was $158,500. 

5. The benefits paid on behalf of retirees from the plan were $171,600. 

Instructions 

a. Calculate the post-retirement benefit expense for 2020. 

b. Prepare a continuity schedule for the defined post-retirement benefit obligation and for the plan assets from the beginning of the year to the end of 2020. 

c. At December 31, 2020, prepare a schedule reconciling the plan's surplus or deficit with the post-retirement amount reported on the SFP. 

d. If Hass Foods had remained with ASPE instead of moving to IFRS, how would your answers to parts (a) to (c) change, if at all? 

e. Explain in what ways, if any, the accounting requirements for this plan are different from the requirements for a defined benefit pension plan.