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Data regarding the defined benefit plan of Po Company follow: Fair value of plan assets, Jan. 1 2,500,000 Return on plan assets 600,000 Contributions to the fund 800,000 Present value of defined benefit obligation, Jan. 1 2,000,000 Current service cost 1,000,000 Benefits paid during the period 300,000 Discount rate 10% Settlement price of 030 60,000 PV of 000 settled 25,000 1. How much is the net benefit asset [or liability) to be recognized in the statement of financial position on January 1 of the current year? a. (2,000,000) b. 2,500,000 0. 500,000 d. 665,000 2. How much is the net benefit asset [or liability} to be recognized in the statement of financial position on December 31 of the current year? a. (2,375,000) b. 500,000 c. 665,000 0. 3,540,000