Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2018, Abbott and Abbott received the following information:

Projected Benefit Obligation	($ in millions)
Balance, January 1		$	120
Service cost			31
Interest cost			12
Benefits paid			(9)
Balance, December 31		$	154

Plan Assets
Balance, January 1		$	90
Actual return on plan assets			12
Contributions 2018			31
Benefits paid			(9)
Balance, December 31		$	124

The expected long-term rate of return on plan assets was 10%. There was no prior service cost and a negligible net lossAOCI on January 1, 2018. Required: 1. Determine Abbott and Abbotts pension expense for 2018. 2. Prepare the journal entries to record Abbott and Abbotts pension expense, funding, and payment for 2018.