Financial Metrics Ltd. provides life insurance and dental coverage to retirees. The yield rate on long-term debt is 5%. The following information relates to these benefits:

Required:1. Compute the benefit obligation for post-employment benefits and plan assets at 31 December 20X2.2. Compute the appropriate expense for post-employment benefits for the year ended 31 December 20X2.3. Compute the closing balances in SFP accounts related to these benefits as at 31 December 20X2.

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Fund assets, 1 January 20X2 Benefit obligation, 1 January 20X2 Benefit payments to retired employees for 20X2 evenly over year Service cost for 20X2 Accumulated OCI, OPEBs, 1 January 20X2, loss Actuarial revaluation, performed at the end of 20X2; liability reduced due to change in mortality assumption Contributions to the benefit fund for 20X2 at end of year Actual return on fund assets 0 $1,282,000 177,000 211,000 186,000 (300,000) 178,000 0