Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2018, Abbott and Abbott received the following information: Projected Benefit Obligation Balance, January 1 Service cost Interest cost Benefits paid Balance, December 31 ($ in millions) $150 35 12 (12) $185 Plan Assets Balance, January 1 Actual return on plan assets Contributions 2018 Benefits paid Balance, December 31 $ 75 8 35 (12) $106 The expected long-term rate of return on plan assets was 8%. There was no prior service cost and a negligible net loss-AOCI on January 1, 2018. Required: 1. Determine Abbott and Abbott's pension expense for 2018. 2. Prepare the journal entries to record Abbott and Abbott's pension expense, funding, and payment for 2018. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine Abbott and Abbott's pension expense for 2018. Pension expense million Required 1 Required 2 > Required 1 Required 2 Prepare the journal entries to record Abbott and Abbott's pension expense, funding, and payment for 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet Record the funding of plan assets. Note: Enter debits before credits. Event General Journal Debit Credit 2 Required 1 Required 2 Prepare the journal entries to record Abbott and Abbott's pension expense, funding, and payment for 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet