Gurung Co. has a noncontributory, defined benefit pension plan adopted on 1 January 20X5. On 31 December 20X5, the following information is available:
For accounting purposes:
• Interest rate used for pension amounts, 5%.
• Past service cost, granted as of 1 January 20X5, $200,000. This is also the defined benefit obligation on 1 January.
• Current service cost for 20X5, appropriately measured for accounting purposes, $67,000. For funding purposes:
• Funding was $99,500 in 20X5 for all pension amounts. The payment was made on 31 December.
• Actual earnings on fund assets, zero.

Required:
1. Prepare a pension spreadsheet that summarizes relevant pension data for 20X5.
2. Prepare a pension spreadsheet that summarizes relevant pension data for 20X6. The following facts relate to 20X6:
• Current service cost for accounting was $96,000.
• A plan amendment on 1 January resulted in a past service cost of $40,000 being granted.

• Total funding of the pension plan was $118,000, on 31 December 20X6.
• Actual return on fund assets was $8,900.
• An actuarial revaluation was done to reflect new information about expected turnover rates in the employee population. This resulted in a $35,000 increase in the defined benefit obligation, as of 31 December 20X6.