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: $5 million per year)	$ 37	million
Net loss-pensions at January 1, 2024 (previous losses exceeded previous gains)	$ 55	million
Average remaining service life of the active employee group	10	years
Actuarys discount rate	8%

($ in millions)

	PBO		Plan Assets
Beginning of 2024	$ 250	Beginning of 2024	$150
Service cost	48
Interest cost, 8%	20	Return on plan assets, 8.0% (10% expected)	12
Loss (gain) on PBO	(3)	Cash contributions	103
Less: Retiree benefits	(15)	Less: Retiree benefits	(15)
End of 2024	$ 300	End of 2024	$250

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	$ 300	Beginning of 2025	$ 250
Service cost	43
Interest cost, 8%	24	Return on plan assets, 18% (10% expected)	45
Loss (gain) on PBO	6	Cash contributions	35
Less: Retiree benefits	(21)	Less: Retiree benefits	(21)
End of 2025	$ 352	End of 2025	$ 309

Problem 17-16 (Algo) Part 5

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