Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2024:

Prior service cost at January 1, 2024, from plan amendment at the beginning of 2022 (amortization: $7 million per year)	$ 52	million
Net loss-pensions at January 1, 2024 (previous losses exceeded previous gains)	$ 65	million
Average remaining service life of the active employee group	10	years
Actuarys discount rate	8	%

($ in millions)

	PBO		Plan Assets
Beginning of 2024	$ 550	Beginning of 2024	$400
Service cost	68
Interest cost, 8%	44	Return on plan assets, 7.5% (10% expected)	30
Loss (gain) on PBO	(3)	Cash contributions	79
Less: Retiree benefits	(59)	Less: Retiree benefits	(59)
End of 2024	$ 600	End of 2024	$450

Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2025:

($ in millions)

	PBO		Plan Assets
Beginning of 2025	$ 600	Beginning of 2025	$ 450
Service cost	58
Interest cost, 8%	48	Return on plan assets, 18% (10% expected)	81
Loss (gain) on PBO	5	Cash contributions	50
Less: Retiree benefits	(36)	Less: Retiree benefits	(36)
End of 2025	$ 675	End of 2025	$ 545

2. Determine the new gains and/or losses in 2024 and prepare the appropriate journal entry(s) to record them. (2 ENTRIES)

4-a. Determine Lakesides pension expense for 2025.

4-b. Prepare the appropriate journal entries to record the expense, the cash funding of plan assets, and payment of benefits to retirees. (3 ENTRIES)

5. Determine the new gains and/or losses in 2025, and prepare the appropriate journal entry(s) to record them. (2 ENTRIES)