A partially completed pension spreadsheet showing the relationships among the elements that constitute Carney, Inc.'s defined benefit pension plan follows. Six years earlier, Carney revised its pension formula and recalculated benefits earned by employees in prior years using the more generous formula. The prior service cost created by the recalculation is being amortized at the rate of S5 million per year. At the end of 2016, the pension formula was amended again, creating an additional prior service cost of $60 million. The expected rate of retum on assets and the actuary's discount rate were 10%, and the average remaining service life of the active employee group is 10 years. (Enter your answers in millionsi.e., 10,000,000 should be entered as 10).) Required 1. Fill in the missing amounts. (Amounts to be deducted should be indicated with a minus sign.) te credits; debits otherwise Prior Net Pension Net Loss Pension (S in millions) ssets ServiceN Cash (Liability) PBO AOCI Expense Cost-AOcI Asset (860) 720 40 96 Balance, Jan. 1, 2016 Service cost Interest cost Expected return on assets Adjust for (140) 76 Loss on assets Amortization of Prior service cost Net loss Loss on PBO Prior service cost Cash funding Retiree benefits Bal., Dec. 31, 2016 (16) 81 (860) 750 40 96 76 (75) 2. to 4. Prepare all the necessary journal entries for 2016. (lf no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list 1 Record pension expense 2 Record any 2016 gains and losses 3 Record new prior service cost in 2016 4 Record the cash contribution to plan assets. 5 Record payment of retiree benefits. Credit Note :journal entry has been entered