A partially completed pension spreadsheet showing the relationships among the elements that comprise the defined benefit pension plan of Universal Products is given below. The actuary's discount rate is 5%. At the end of 2022, the pension formula was amended, creating a prior service cost of $260,000. The expected rate of return on assets was 8%, and the average remaining service life of the active employee group is 20 years in the current year, as well as, the previous two years.

Required:

($ in thousands)	PBO	Plan Assets	Prior Service Cost AOCI	Net Loss AOCI	Pension Expense	Cash	Net Pension (Liability) / Asset
Balance, January 1, 2024	$(1,020.0)	$760.0	$247.0	$102.0			$(260.0)
Service cost					122.0
Interest cost, 5%	(51.0)
Expected return on assets					(60.8)
Adjust for:
Loss on assets				25.0
Amortization:
Prior service cost
Amortization:
Net loss
Gain on PBO							26.0
Prior service cost
Cash funding						(106.0)
Retiree benefits
Balance, December 31, 2024	$(1,117.0)	$760.0	$234.0	$127.0	$61.2		$(234.0)