3. (24 points) Quest Corp. sponsors a defined benefit pension plan for its employees since its inception. On December 31, 2018, the projected benefit obligation and the accumulated benefit obligation were $485,000 and $402 500, respectively. The fair value of pension plan assets amounted to $410,000 at the end of 2018. A 8% settlement rate and 10% of expected asset return rate were used in the actuarial present value computations in the pension plan. On December 31, 2019, the actuary provided the following information: service rendered in the current year $52,000 Present value of future benefits earned for Actual return on plan assets = $38,000 Employer's contribution to the plan assets = $75, Benefits paid to the retired employees = $60,000 (a) Prepare a pension worksheet and make the journal entries to reflect all pension plan transactions for 2019. Make sure to disclose Year-End Net Pension Asset/Liability balance (points) GENERAL JOURNAL ENTRIES MEMO RECORD Pension Expense Pension Asset/ Tibility Projected Benefit bligation Gain/Loss O Items FYB Service costs Interest costs Actualreturn PSC Unexpected Gain/Loss Contributions Pension Pension (a) Prepare a pension worksheet and make the journal entries to reflect all pension plan transactions for 2019. Make sure to disclose Year-End Net Pension Asset/Liability balance (7 points) GENERAL JOURNAL ENTRIES MEMO RECORD - OCH Pension Projected Pension Asset/ Benefit Plan Items Expense Gain Loss Lobility Obligation Assets FYB Service costs Interest costs Actual retum PSC Unexpected Gain/Loss Contributions Benefits paid Liability, G/L Joumalentry FYE talento Journal Entry to recognize 2019 pension expense and state net pension asset/liability balance (5 points)