Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2024 (the end of Beale's fiscal year), the following pension-related data were available:

Projected Benefit Obligation	($ in millions)
Balance, January 1, 2024	$ 440
Service cost	46
Interest cost, discount rate, 5%	22
Gain due to changes in actuarial assumptions in 2024	(13)
Pension benefits paid	(22)
Balance, December 31, 2024	$ 473

Plan Assets	($ in millions)
Balance, January 1, 2024	$ 460
Actual return on plan assets	32
(Expected return on plan assets, $37)
Cash contributions	73
Pension benefits paid	(22)
Balance, December 31, 2024	$ 543

January 1, 2024, balances:	($ in millions)
Pension asset	$ 20
Prior service costAOCI (amortization $6 per year)	42
Net gainAOCI (any amortization over 10 years)	86

Required:

1. to 3. Prepare the journal entries required for the pension during 2024.

4. Determine the balances at December 31, 2024, in the net gainAOCI, and prior service costAOCI. [Hint: You might find T-accounts useful.]

5. What amount will Beale report in its 2024 balance sheet as a net pension asset or net pension liability for the funded status of the plan?

Journal entry worksheet 1 2 3) 4 Record the payment of benefits. Note: Enter debits before credits. What amount will Beale report in its 2024 balance sheet as a net pension asset the plan? Note: Enter your answers in millions. (i.e., 10,000,000 should be entered as 10 Prepare the journal entries required for the pension during 2024 . Note: If no entry is required for a transaction/event, select "No journal entry required" in the fir millions. (i.e., 10,000,000 should be entered as 10). Journal entry worksheet 4 5 Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Determine the balances at December 31,2024 , in the net gain-AOCI, and prior service cost-AC accounts useful.] Note: Enter your answers in millions. (i.e., 10,000,000 should be entered as 10). Prepare the journal entries required for the pension during 2024 . Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter answers in millions. (i.e., 10,000,000 should be entered as 10). *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. Journal entry worksheet 1) 2 Record the funding of plan assets. Note: Enter debits before credits. Journal entry worksheet 4 Record the gain on PBO. Note: Enter debits before credits