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 loss-postretirement benefit plan Accumulated postretirement benefit obligation Fair value of plan assets Average remaining service period to retirement Average remaining service period to full eligibility $ 237,400 $2,170,000 $ 447,000 12 years 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 $39,000 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate any amortization of net loss that should be included as a component of postretirement benefit expense for the current year. Postretirement Benefit Expense Net loss Less: 10% corridor Excess at beginning of year Average remaining service years Amount amortized to expense 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 loss-postretirement benefit plan Accumulated postretirement benefit obligation Fair value of plan assets Average remaining service period to retirement Average remaining service period to full eligibility $ 237,400 $2,170,000 $ 447,000 12 years 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 $39,000 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the net loss or gain as of December 31 of the current year