21. (10 points) M Service Co. reported the following for its defined benefit pension plan for 2019: Benefits paid to retirees $425,000 Service cost 640,000 Actual return on plan assets 306,000 Cash contributions made by M to the pension plan 425,000 Stock contributions made by M to the pension plan; 15,000 shares of M common stock; par value $1 per share; fair value at the time of the contribution was $39 per share. Settlement rate 2.40% Expected rate of return on plan assets 4.85% Average remaining service life of existing employees 10 years Projected benefit obligation as of 12-31-18 5,900,000 Fair value of plan assets as of 12-31-18 5,645,000 Other comprehensive income - prior service cost as of 12-31-18 60,000 dr Other comprehensive income - Gains/Loss as of 12-31-18 604,000 dr M amortizes its prior service cost on a straight-line basis over the average remaining service life of its existing employees. Changes in actuarial assumptions resulted in a required 12-31-19 PBO of $6,000,000 a. b. c. Using the above information for M, prepare a pension work sheet for 2019. Using the work sheet, prepare the entry to reflect the accounting for the company's pension plan for the year ending 12-31-19. Will M need to record corridor amortization for 2020, yes or no? Support your answer mathematically