A company has a noncontributory, defined benefit pension plan. On December 31 of the current year (the end of the company's fiscal year), the following pension-related data were available: Required: 1. to 3. Prepare the journal entries required for the pension during the current year. 4. Determine the balances at December 31 of the current year in the net gain-AOCl, and prior service cost-AOCl. [Hint: You might find T-accounts useful.] 5. What amount will the company report in its current year balance sheet as a net pension asset or net pension liability for the funded status of the plan? Required: 1. to 3. Prepare the journal entries required for the pension during the current year. 4. Determine the balances at December 31 of the current year in the net gain-AOCl, and prior service cost-AOCl. [Hint: You might find T-accounts useful.] 5. What amount will the company report in its current year balance sheet as a net pension asset or net pension liability for the funded status of the plan? Journal entry worksheet