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) Net loss-pensions at January 1, 2024 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $ 41 million $ 50 million 10 years 9% ($ in millions) PBO Beginning of 2024 $ 300 Beginning of 2024 Service cost 99 Interest cost, 9% 27 Return on plan assets, 8.0% (10% expected) Loss (gain) on PBO (4) Cash contributions Less Retiree benefits (22) Less Retiree benefits End of 2024 400 End of 2024 Plan Assets $150 12 60 (22) $200 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2025: ($ in millions) Beginning of 2025 PBO $ 400 Beginning of 2025 Service cost 47 Interest cost, 9% 36 Return on plan assets, 16% (10% expected) Loss (gain) on PBO 6 Less: Retiree benefits (25) Cash contributions Less Retiree benefits End of 2025 $ 464 End of 2025 Plan Assets $ 200 32 39 (25) $ 246 5. Determine the new gains and/or losses in 2025, and prepare the appropriate journal entry(s) to record them. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers Journal entry worksheet < 1 2 Record gain or loss on PBO. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal > Journal entry worksheet < 1 2 Record gain or loss on plan assets. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit Record entry Clear entry View general journal