Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2016, Abbott and Abbott received the following information: Projected Benefit Obligation ($ in millions) Balance, January 1 $120 Service cost 20 Interest cost 12 Benefits paid Balance, December 31 $143 Plan Assets Balance, January 1 $ 80 Actual return on plan assets 9 Contributions 2016 20 Benefits paid (9) Balance, December 31 $100 (9) The expected long-term rate of return on plan assets was 10%. There was no prior service cost and a negligible net loss-AOCI on January 1, 2016. Required: 1. Determine Abbott and Abbott's pension expense for 2016. 2. Prepare the journal entries to record Abbott and Abbott's pension expense, funding, and payment for 2016