10. 5.00 polnts Pension data for Barry Financial Services Inc include the following (S in 000s) Discount rate,7% Expected return on plan assets, 11% Actual return on plan assets, 10% Service cost, 2016 January 1, 2016 Projected benefit obligation Accumulated benefit obligation Plan assets (fair value) Prior service cost-AOCI (2016 amortization, S45) Net gain-AOCI (2016 amortization, $6) There were no changes in actuarial assumptions $ 350 2.500 2200 2,600 345 370 December 31, 2016 Cash contributions to pension fund, December 31. 2016285 Benefit payments to retirees, December 31, 2016 (For all requirements, enter your answers in thousands rounded to 1 decimal place (i.e. 5,500 should be entered as 5.5)) Required: 1. Determine pension expense for 2016 (Amounts to be deducted should be indicated with a minus sign.) Pension expense 2. Prepare the journal entries to record pension expense gains and losses (if any), funding, and retiree benefits for 2016. (if no entry is required for a transaction/event, select No journal entry required