Actuary and trustee reports indicate the following changes in the PBO and plan assets of Sporting Industries during $2024$:

Prior service cost at January $1,2024,$ from plan amendment at the beginning of $2021($amortization: $$2$ million per year$)$ $ $14$ million

Net loss$$AOCI at January $1,2024($previous losses exceeded previous gains$)$ $ $40$ million

Average remaining service life of the active employee group $10$ years

Actuary's discount rate $7\%$

$($$ in millions$)$ PBO PLAN ASSETS

Beginning of $2024$ $ $300$ Beginning of $2024$ $ $200$

Service cost $40$ Return on plan assets, $8\%(10\%$ expected$)16$

Interest cost, $7\%21$

Loss $($gain$)$ on PBO $(7)$ Cash contributions $45$

Less: Retiree benefits $(19)$ Less: Retiree benefits $(19)$

End of $2024$ $ $335$ End of $2024$ $ $242$

Required:

Determine Sporting's pension expense for $2024$ and prepare the appropriate journal entries to record the expense as well as the cash contribution to plan assets.

Prepare the appropriate journal entries to record any $2024$ gains and losses.