A company has a nencontributory, defned benefit pension plan At December 31 af the current year, the company received the following information: The expected iong-1erm rate of return on plan assets was 10%. There were no ACCI balances related to pensions on January 1 of the curtent yeat. At the end of the current yeac, the campany amended the pension formulo creating a prior service cost of $26 milion Required: 1. Deienmine the company's pension expense for the current yeat. 2. Prepare the jouirnal entryta) to record the company's (a) pension expens, (b) gains or losses, (c) prior service cost (d) funding, and (o) poyment of retiree benefits for the current yeat. Complete this quention by entering your answers in the tabs below. Dotermine the companys pension expense for the current year. Note Amounts to be deducted should be indicated mith \& minid son Fnter vour anvere in milions (1,e,10,000,000 should be emered as 10) Determine the company's pension expense for the current ycar. Note: Amounts to be deducted should be indicated with a minus sign, Enter your answer in millions (h.e., 10,000,000 should be entered as 10). Journal entry worksheet 2345 Record the pension expense. Wote: Enter debits befere crodis Journal entry worksheet 5 Record the gain or loss on plan assets. Wote: Enter debits before crednts