10:17 4 LTE Done 1 of 5 Problem 2 Pension (35 points) Lisianthus Corp. has a noncontributory, defined benefit pension plan. Pension-related data on December 31, 2021 (fiscal year end) were: Projected Benefit Obligation, January 1, 2021 $ 610 Plan Assets, January 1, 2021 Service cost ($ in millions) 840 70 Interest cost, discount rate, 5% Actual return on plan assets 10% Expected return on plan assets 12% Gain due to changes in actuarial assumptions in 2021 20 Cash contributions Pension benefits paid January 1.2021. balances: millions) Pension 94 42 (S in asset $ 230 Prior service cost-AOCI (any amortization over 5 years, 40 $8 per year) Net gain-AOCI (any amortization over 10 years) Required: 124 (a) Prepare the 2021 journal entry to record pension expense. (b) Prepare the journal entry(s) to record any 2021 gains and losses. (c) Prepare the 2021 journal entries to record the contribution to plan assets and benefit payments to retirees. (d) Using T-accounts, determine the balances at December 31, 2021, in PBO, plan assets, net gain-AOCI, and prior service cost-AOCI and show how the balances changed during 2021. (c) What amount will Lisianthus report in its 2021 balance sheet as a net pension asset or net pension liability for the funded status of the plan?