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 $1,2024$ $ $780$

Service cost $80$

Interest cost, discount rate, $5\%39$

Gain due to changes in actuarial assumptions in $2024(23)$

Pension benefits paid $(39)$

Balance, December $31,2024$ $ $837$

Plan Assets $($$ in millions$)$

Balance, January $1,2024$ $ $800$

Actual return on plan assets $49$

$($Expected return on plan assets, $$54)$

Cash contributions $90$

Pension benefits paid $(39)$

Balance, December $31,2024$ $ $900$

January $1,2024,$ balances: $($$ in millions$)$

Pension asset $ $20$

Prior service cost$$AOCI $($amortization $$9$ per year$)45$

Net gain$$AOCI $($any amortization over $10$ years$)120$

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 gain$$AOCI$,$ and prior service cost$$AOCI$.[$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?