4 nts The funded status of Hilton Paneling Inc's defined benefit pension plan and the balances in prior service cost and the net gain- pensions, are given below. Projected benefit obligation Plan assets Funded status Prior service cost-AOCI Net gain-AOCI (5 in 000s) 2021 Beginning Balances 2021 Ending Balances $ 4,501 4,791 290 $4,000 4,400 400 425 400 460 395 Return to question Retirees were paid $250,000, and the employer contribution to the pension fund was $265,000 at the end of 2021. The expected rate of return on plan assets was 10%, and the actuary's discount rate is 8% There were no changes in actuarial estimates and assumptions regarding the PBO Required: 1. Determine the actual return on plan assets of 2021 2. Determine the loss or gain on plan assets of 2021 3. Determine the service cost of 2021 4. Determine the pension expense of 2021. 5. Average remaining service life of active employees (used to determine amortization of the net gain Most WE what is correct or incorrect for the work you have completed so far. It does not indicate completion Return 14 4 1. Determine the actual return on plan assets of 2021. points 2. Determine the loss or gain on plan assets of 2021 3. Determine the service cost of 2021. 4. Determine the pension expense of 2021 5. Average remaining service life of active employees (used to determine amortization of the net gain) (For all requirements, enter your answers in thousands (ie. 200,000 should be entered as 200).) Answer is complete but not entirely correct. 1 Actual return S 376 thousand 2 Loss on plan assets 64 thousand 33 Service cost 5 431 thousand 4. Pension expense $ 271 thousand 5 Average service period 8years