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

Balance, January 1, 2024

Service cost

Interest cost, discount rate, 5%

Gain due to changes in actuarial assumptions in 2024

Pension benefits paid

Balance, December 31, 2024

($ in millions)

$ 480

82

24

(10 )

(40)

$ 536

Plan Assets

Balance, January 1, 2024

Actual return on plan assets

(Expected return on plan assets, $45)

Cash contributions

Pension benefits paid

Balance, December 31, 2024

($ in millions)

$ 500

40

70

(40)

$ 570

January 1, 2024, balances:

Pension asset

Prior service cost-AOCI (amortization $8 per year)

Net gain-AOCI (any amortization over 15 years)

($ in millions)

48

80

Required:

Prepare a pension spreadsheet to show the relationship among the PBO, plan assets, prior service cost, the net gain, pension expense, and the net pension asset.

Note: Enter credit amounts with a minus sign and debit amounts with a positive sign. Enter your answers in millions (i.e., 10,000.000 should be entered as 10).

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: Required: Prepare a pension spreadsheet to show the relationship among the PBO, plan assets, prior service cost, the net gain, pension expense, and the net pension asset. Note: Enter credit amounts with a minus sign and debit amounts with a positive sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10 )