Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2021 (the end of Beale's fiscal year), the following pension-related data were available:

Projected Benefit Obligation	($ in millions)
Balance, January 1, 2021		$	540
Service cost			56
Interest cost, discount rate, 5%			27
Gain due to changes in actuarial assumptions in 2021			(11	)
Pension benefits paid			(27	)
Balance, December 31, 2021		$	585

Plan Assets	($ in millions)
Balance, January 1, 2021		$	560
Actual return on plan assets			37
(Expected return on plan assets, $42)
Cash contributions			78
Pension benefits paid			(27	)
Balance, December 31, 2021		$	648

January 1, 2021, balances:	($ in millions)
Pension asset	$	20
Prior service costAOCI (amortization $5 per year)		25
Net gainAOCI (any amortization over 10 years)		96

Required: 1. to 3. Prepare the 2021 journal entries to record pension expense, to record any 2021 gains and losses and the contribution to plan assets and benefit payments to retirees. 4. Determine the balances at December 31, 2021, in the PBO, plan assets, the net gainAOCI, and prior service costAOCI [Hint: You might find T-accounts useful.] 5. What amount will Beale report in its 2021 balance sheet as a net pension asset or net pension liability for the funded status of the plan?

1 Record the pension expense. 2 Record the gain on PBO. 3 Record the loss on plan assets. 4 Record the funding of plan assets. 5 Record the payment of benefits. Req 1 to 3 Reg 4 Reg 5 Determine the balances at December 31, 2021, in the PBO, plan assets, t [Hint: You might find T-accounts useful.]. (Enter your answers in millions. Balances on Dec. 31, 2021 ($ in millions) PBO Plan assets Net gain - AOCI Prior service cost - AOCI Req 1 to 3 Reg 4 Reg 5 What amount will Beale report in its 2021 balance sheet as a net pension asset or net pension liability for the funded status of the plan? (Enter your answers in millions. (i.e., 10,000,000 should be entered as 10).) Balance Sheet as of 2021 million