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A company has a noncontributory, defined benefit pension plan. At December 31 of the current year, the company received the following information: The expected long-term

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A company has a noncontributory, defined benefit pension plan. At December 31 of the current year, the company received the following information: The expected long-term rate of return on plan assets was 10%. There were no AOCI balances related to pensions on January 1 of the current year. At the end of the current year, the company amended the pension formula creating a prior service cost of $32 milion. 1. Determine the company's pension expense for the current year. 2. Prepare the journal entry(s) to record the company's (a) pension expense, (b) gains or losses, (c) prior service cost, (d) funding. and (e) payment of retiree benefits for the current year

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