Problem $17-12($Algo$)$ Determine pension expense; journal entries; two years $[$LO$17-3,17-4,17-5,17-6,17-7,17-8]$The Kollar Company has a defined benefit pension plan. Pension information concerning the fiscal years $2024$ and $2025$ are presented below $($$ in millions$)$:Information Provided by Pension Plan Actuary:$$Projected benefit obligation as of December $31,2023=$ $$4,100.$Prior service cost from plan amendment on January $2,2024=$ $$500($straight$-$line amortization for $10-$year average remaining service period$).$Service cost for $2024=$ $$700.$Service cost for $2025=$ $$750.$Discount rate used by actuary on projected benefit obligation for $2024$ and $2025=10\%.$Payments to retirees in $2024=$ $$560.$Payments to retirees in $2025=$ $$630.$No changes in actuarial assumptions or estimates.Net gain$$AOCI on January $1,2024=$ $$470.$Net gains and losses are amortized for $10$ years in $2024$ and $2025.$Information Provided by Pension Fund Trustee:Plan asset balance at fair value on January $1,2024=$ $$2,900\mathrm{.}2024$ contributions $=$ $$720\mathrm{.}2025$ contributions $=$ $$770.$Expected long$-$term rate of return on plan assets $=12\%\mathrm{.}2024$ actual return on plan assets $=$ $$270\mathrm{.}2025$ actual return on plan assets $=$ $$320.$Required:Calculate pension expense for $2024$ and $2025.$Prepare the journal entries for $2024$ and $2025$ to record pension expense.Prepare the journal entries for $2024$ and $2025$ to record any gains and losses and new prior service cost.Prepare the journal entries for $2024$ and $2025$ to record $($a$)$ the cash contribution to plan assets and $($b$)$ the benefit payments to retirees.