Bazerman Inc. has a postretirement health care benefit plan. On January 1 of the current calendar year, the following plan-related data were available.

Net losspostretirement benefit plan $ 246,200

Accumulated postretirement benefit obligation $ 2,210,000

Fair value of plan assets $ 451,000

Average remaining service period to retirement 12 years

Average remaining service period to full eligibility 10 years

The rate of return on plan assets during the year was 12%. The expected return was 10%. The actuary revised assumptions regarding the APBO at the end of the year, resulting in a $43,000 increase in the estimate of the obligation. Required:

1. Calculate any amortization of net loss that should be included as a component of postretirement benefit expense for the current year.

2. Determine the net loss or gain as of December 31 of the current year.