a$.$ Compute the total pension cost for the year.

b$.$ Determine the ending balances of the plan assets and the projected benefit obligation and indicate the funded status of the plan.

c$.$ Reconcile the ending balance in accumulated other comprehensive income and indicate the amounts attributable to unamortized prior service cost and unamortized net actuarial gains$/$losses$.$

d$.$Prepare the journal entry to record the current year$$s pension cost.

Briefly comment on the following:

What amount will appear in Castillo$$s balance sheet? How well does that represent the actual financial position of the pension?

What amount will appear in Castillo$$s income statement? How well does that represent the effect of the pension activities in the current year on Castillo$$s net income? What might be a better representation of the income effect? And how would a financial analyst determine the best representation from the information available?

What disclosures beyond what you have already prepared are required to be presented in Castillo$$s notes to the financial statements?