2-Pension Plan (15 Marks) On June 1, 2021, Proactive Company reported the following balances related to their defined benefit pension plan: Fair value of plan assets Defined benefit obligation Other data related to the pension plan for the 2021 year follows: Current service cost Contributions to the plan Benefits paid Actual return on plan assets Prior year service cost, granted June 1, 2021 Defined benefit obligation at May 31, 2022 Interest/discount rate on the defined benefit obligation and plan assets Assume that Proactive Company has a May 31 year end and follows IFRS. Required: SS $ 2,770,700 2,827,245 121,615 115,534 117,967 207,803 81,780 3,063,080 6% 1. Prepare a pension worksheet for Proactive Company for the year ended May 31, 2022. (9.5 marks) 2. Prepare the journal entries required by Proactive Company for the pension plan for the year ended May 31, 2022. (2.5 marks) 3. Determine the funded status of the plan at May 31, 2022. (1 mark) 4. Prepare the necessary journal entries for the pension for the year ended May 31, 2022 if Benefactor Corporation follows ASPE instead of IFRS. A pension worksheet is not required. (2 marks)