Information for a pension plan for J. Q. Morgan Inc. follows.

J. Q. Morgan Inc, elects to amortize pension gain/loss into income for the period using the straight-line method (10-year average remaining service period) without applying the corridor approach. The expected rate of return on plan assets is \(7 \%\).
Required 

Compute Accumulated OCI—Pension Gain/Loss at January 1, 2021.

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Account Balances Accumulated OCI-Pension Gain/Loss, Jan. 1, 2020 Plan Assets, Jan. 1, 2020. Plan Assets, Dec. 31, 2020 Activity Contributions $ 7,000 Cr. Benefits paid. 200,000 Dr. Actuarial loss on PBO 220,000 Dr. (computed on Dec. 31, 2020).. 2020 $40,000 32,000 8,000