(15 points) The accountant for Marlin Corporation has developed the following information for the company's defined-benefit pension plan for 2020 and 2021: Account Annual Service cost 2020 2021 $1,000,000 $1,200000 Actual return on plan assets 500,000 600,000 Amortization of prior service cost 250,000 230,000 1,050,000 1,230000 Benefits paid to retirees 1,220,000 1,500,000 5% 5% 10% 9% Annual contribution to the plan Settlement rate Expected rate of return on plan assets The projected benefit obligation on December 31, 2021, amounted to $8,750,000. Instructions I (a) Using the above information for Marlin Corporation, complete the pension worksheet for 2020 and 2021. Calculated amounts should be supported. (b) Prepare the journal entry (entries) to reflect the accounting for the company's pension plan for the year ending December 31, 2020 and 2021. (c) Determine whether there will be any net gains/losses amortization for 2022 using the corridor approach. Bonus Question (3 points) Indicate the pension-related accounts and amounts reported in the financial statements for 2021. 2020 Journal Entries Pension cash OCI-PSC expense OCI-Net gains/losses Pension 1/1/bal. Service Cost 1,250,000 dr Lia./Assets 2,500,000cr Inter. Exp. Actual Return Unexpected Loss or Gain Amor. of PSC Cash Contribution Benefit Paid Journal Entry 12/31 Balances Disclosures Projected Pension: Pension Obli Assets 8,000,000 cr 5,500,000dr I 2021 Journal Entries Pension cash OCI- PSC OCI-Net Pension expense gains/losses Disclosures Projected Lia./Assets Pension Obli, 1/1 bal. Service Cost Inter. Exp. Actual Return Unexpected Loss or Gain Amor. of PSC Cash Contribution Benefit Paid Liability Adjust. Journal Entry 12/31 Balances 2 I Pension Assets