4. Given below is pension information for 2016 from pension footnotes and other sources (in millions). Benefit obligation at year-end is total pension liability based on PBO; pension expense is net periodic benefit cost; prepaid pension cost/obligation is net pension asset or liability position on the balance sheet (reported as part of other assets or other liabilities, if negative). DuPont Dow 3252 PPG 30280 21208 1780 1609 24831 16656 577 523 39964 Benefit Obligation at Year-End Fair Value of Plan Assets Net Periodic Benefit Cost Prepaid Pension Cost Total Assets Net Income 1101 629 740 79511 15769 877 2513 4318 a. Calculate funding status (overfunded or underfunded, based on prepaid pension cost ), [pension obligation / total assets); [prepaid pension cost (obligation)/ total assets]; and (pension expense / net income). Note: Net pension benefit cost is a negative expense for these companies increases net income), because of positive expected return on plan assets. DuPont Dow PPG Over or Underfunded Benefit Obligation/Total Assets Prepaid Pension Cost / Total Assets Pension Expense / Net Income b. Compare the pension plans of the three chemical companies. Are there any concerns? Explain. 4. Given below is pension information for 2016 from pension footnotes and other sources (in millions). Benefit obligation at year-end is total pension liability based on PBO; pension expense is net periodic benefit cost; prepaid pension cost/obligation is net pension asset or liability position on the balance sheet (reported as part of other assets or other liabilities, if negative). DuPont Dow 3252 PPG 30280 21208 1780 1609 24831 16656 577 523 39964 Benefit Obligation at Year-End Fair Value of Plan Assets Net Periodic Benefit Cost Prepaid Pension Cost Total Assets Net Income 1101 629 740 79511 15769 877 2513 4318 a. Calculate funding status (overfunded or underfunded, based on prepaid pension cost ), [pension obligation / total assets); [prepaid pension cost (obligation)/ total assets]; and (pension expense / net income). Note: Net pension benefit cost is a negative expense for these companies increases net income), because of positive expected return on plan assets. DuPont Dow PPG Over or Underfunded Benefit Obligation/Total Assets Prepaid Pension Cost / Total Assets Pension Expense / Net Income b. Compare the pension plans of the three chemical companies. Are there any concerns? Explain